Futures Traders: Get FREE daily videos covering today's hottest market
Twenty-five-year commodity market veteran Jim Prince is an expert in the principles of technical trading. Each day Jim reviews the biggest moves in the commodity markets, identifying formations and planking trading strategies. And now, in his free Daily Alert, Jim will share with you his hot pick of the day with an exclusive 3-5 minute video.
With each Daily Alert video Jim reviews first-hand his featured chart of the day, discusses trading strategy, and highlights possible entry and exit points.
Enter your e-mail below to view the latest Daily Alert and receive a complimentary PDF on Cycle Trading techniques to find the right conditions for entering the market.
Cattle futures closed 15 to 40 higher. Feeder cattle futures still showed mostly triple digit losses with the exception of August, which has to converge with the CME Index at expiration next week.USDA reported net weekly beef export sales totaled 7,300 MT for the week ending August 14. Wholesale prices are still under pressure. Choice boxes were down $1.09/cwt, with Select product down $2.25/cwt. The choice/select spread widened to $9.63. Cash cattle activity has increased, with some sales at $153 confirmed this morning. Southern trade has been $152-153. The trade average guess for Friday’s Cattle on Feed report has numbers at 97.21% of year ago on August 1, with July placements down 9.5% from last year.
Aug 14 Cattle closed at $149.650, up $0.400,
Oct 14 Cattle closed at $145.550, up $0.150,
Dec 14 Cattle closed at $148.600, up $0.150,
Aug 14 Feeder Cattle closed at $215.200, up $0.250
Sep 14 Feeder Cattle closed at $209.425, down $1.825
Oct 14 Feeder Cattle closed at $208.600, down $1.775