Video Alert and PDF: Learn from a Market Veteran (Free!)
Jim Prince, 25-year commodity market veteran, just posted a 3+ minute video about a recent move in the commodity markets. Watch it now, and he'll send you a free companion PDF and an email reminder every time he posts a new Daily Alert video.
See the markets Jim is watching each day
Get a free companion PDF that explains his "Cycle Trading" method
Learn how to identify chart formations that indicate potential breaking commodity markets
Watch Jim analyze actual charts in his videos, pointing out formations and signals
All you need to do to watch today's video and get the PDF is confirm here:
Cattle futures settled between 7 and 20 cents into the red today, but October kept 15 cents worth of gains for the week. Feeder futures were mostly limit down, but the October contract held on for a loss of only $1.75 today. Since Monday, November feeders posted three limit down days, and one day with prices limit up. Cash cattle trade this week was reported mostly at $164-165. Carcass based quotes in NE were $257-258. Wholesale beef prices were mixed in the PM report, with average prices for Choice beef reported 24 cents higher, and Select boxes were 24 cents lower. They were respectively $1.49 and $0.04 higher for the week. Weekly beef export sales through October 9 were reported at 8000 MT. Estimated weekly slaughter including Saturday is 565K head, just 3K head more than last week, and 55K head less than a year ago. The weekly COT report from the CFTC showed managed money accounts getting less short from Tuesday to Tuesday, reducing their net long position -1,812 contracts which, makes them net long 110,132 contracts.
Oct 14 Cattle closed at $165.050, down $0.200,
Dec 14 Cattle closed at $165.050, down $0.250,
Feb 15 Cattle closed at $164.025, down $0.075,
Oct 14 Feeder Cattle closed at $238.450, down $1.750
Nov 14 Feeder Cattle closed at $234.150, down $3.000
Jan 15 Feeder Cattle closed at $228.125, down $3.000