Strong cash cattle sales at 119.00 on a live basis and up to 187.00 for dressed on Friday couldn’t ignite futures today as cattle futures continued its lackluster trading. February Live Cattle pulled back to support at 120.75, making the low just above it at 120.775. A break down below support could see price move towards support at 119.15. A recovery has resistance at 121.90. In other words the range trading continues. There is nothing different to report for Feeders and Hogs. The trading range continues.
For those interested I hold a weekly grain (with Sean Lusk) and livestock webinar on Thursday, December 13th at 3:00 pm. It is free for anyone who wants to sign up and the link for sign up is below. If you cannot attend live a recording will be sent to your email upon completion of the webinar. Sign Up Now
**Call me for a free consultation for a marketing plan regarding your livestock needs.* *
Ben DiCostanzo
Senior Market Strategist
Walsh Trading, Inc.
Direct: 312.957.4163
888.391.7894
Fax: 312.256.0109, bdicostanzo@walshtrading.com
www.walshtrading.com
RISK DISCLOSURE: THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES AND OPTIONS TRADING. THIS REPORT IS A SOLICITATION FOR ENTERING A DERIVATIVES TRANSACTION AND ALL TRANSACTIONS INCLUDE A SUBSTANTIAL RISK OF LOSS. THE USE OF A STOP-LOSS ORDER MAY NOT NECESSARILY LIMIT YOUR LOSS TO THE INTENDED AMOUNT. WHILE CURRENT EVENTS, MARKET ANNOUNCEMENTS AND SEASONAL FACTORS ARE TYPICALLY BUILT INTO FUTURES PRICES, A MOVEMENT IN THE CASH MARKET WOULD NOT NECESSARILY MOVE IN TANDEM WITH THE RELATED FUTURES AND OPTIONS CONTRACTS. Blog – Sign Up Now