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 22 lower to 87 cents higher today. Feeders showed some strength today with the November contract closing $1.40 higher.Wholesale beef prices were lower, with Choice losing $1.17 and Select off $2.48 from Thursday afternoon. Weekly estimated slaughter including Saturday is 571K head, off 21K head from last week and down 60K head from the same week a year ago.Trade estimates for the USDA Cattle on Feed report this afternoon were calling for a 1.1% drop in the September 1 On Feed number. The report showed Cattle on Feed at 99.2% of year ago.Placements were 97.1% of year ago, and marketings came in at 90.4%, accounting for the slightly larger than expected September 1 figure. The large managed money spec funds added 7,855 contracts to their net long position in cattle futures during the week ending 9/16/14.
Oct 14 Cattle closed at $155.625, up $0.025,
Dec 14 Cattle closed at $158.700, down $0.225,
Feb 15 Cattle closed at $160.250, up $0.875,
Sep 14 Feeder Cattle closed at $230.600, up $0.700
Oct 14 Feeder Cattle closed at $228.725, up $1.025
Nov 14 Feeder Cattle closed at $226.325, up $1.400