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 opened mixed but are trading from 2.5 to 70 cents lower as this was written. Soon-to-expire January feeders closed with a better than $1.67 gain, but is 50 cents in to the red so far this morning. The spread between January futures and the CME index narrowed to $2.80 last night ahead of the January contract expiration today. Cash cattle markets are seeing limited activity in Iowa and Colorado at $157 and $155 respectively. Week to date slaughter numbers were estimated at 335K, which was 1K more than a week ago and 4K less than a year ago. Wholesale beef prices were lower for the Choice boxes yesterday by 41 cents, but Select boxes averaged 8 cents higher than the previous day. Net US beef export sales last week totaled 10,000 MT in the USDA report this morning.