Rising wedge. 60% of these break down. Confluently, the monthly stochastic RSI is topping and the monthly RSI is screaming overbought. I expect a possible and highly probable drawdown of 7-13% over the next 6-9 months. Nothing is for certain, however, so please exercise sound risk management.
Markets have been volatile lately across the board, Ags seem to be getting punished and technicals are indicating a move lower still, taking a short position at market with protective Stop Loss at 84.40. Full moon lately in the Midwest as we move into October/November season, Lunar belief traders are on the lookout, Happy Friday!
December Live Cattle has been in a virtual free-fall since making contract highs back on September 19th. We’ve sold off nearly $7 since scoring the new high. To say it’s been a remarkable year for live cattle futures would be an understatement - we’ve made all time highs, and bucked bearish seasonal tendencies along the way. The strength observed across the...
After being subjected to selling pressure for the majority of the week, the November feeder cattle contract found support at the 23.6% retracement level between the contract’s low, and the contract’s high. The low for the day was only a few ticks off of the actual 253.825 level, coming in at 254.050.
There’s no question about it - feeder cattle futures have...
Live Cattle Futures is probably an asset that you have never looked at and never thought to trade.
However, it has been in it's own bull market for the past 3 years !
Having said that, now the chart is showing clear weakness and giving us the perfect entry to the trade with an incredibly low risk and high potential reward. Hitting the first tp would keep it...
CME: Live Cattle ( CME:LE1! ), Lean Hog ( CME:HE1! )
Last month, the Bureau of Labor Statistics (BLS) reported that US inflation on food items was 5.7% in June, exactly half of its peak of 11.4% in August 2022. Food inflation is at its lowest level since November 2021.
Under the sub-category “Meats, poultry, fish, and eggs” from Food-at-home, the BLS data shows...
Seasonally supported for Buys May/June >> into July. Typical seasonal Low mid-late June (agreement across 5yr, 15yr, 40yr data).
I like how this has retraced down to old Aug'15 high and rejected that dynamically (see the GF1! W graphic). I very much like the perfectly 'clean' equal highs from 2015-2023 (see GF1! weekly graphic).
I prefer not to see price return...
6.21.23 This video Is about cattle markets. The video turned out a little differently than I had planned,it turned out to be the whole video before I ran out of time. But I think it went okayI will have to do a video on gold and silver which is the real reason why I got up today to do a video. If you like the video please put a thumbs up.
Damn my steaks are still getting more expensive. Don't think the inflation battle is over just yet.
Can't call Powell an idiot this time since he maintained a hawkish stance, but I think the Feds are underestimating how high rates need to go since they can't reduce their balance sheet.
6.8.23 There is a reason why I suddenly picked cattle as a market that we could trade. It's a market that has tremendous profit potential and it was about to make new highs... and yet there will be tons of dead bodies.... the bodies of traders who tried to short the market.... and other bodies of Traders who went long in the market.... and they both lose money. ...
6.6.23 This video Focuses on gold and the possibility that the market is going to move higher or lower... it is Unclear... and that means it's not clear To define your edge. At the end of the video I decided to show you the cattle market because I believe this is a market that will give you lots of good trades for buyers and sellers because of its volatility.......
CME: Live Cattle ( CME:LE1! ), Lean Hog ( CME:HE1! )
When I started my career in commodity futures two decades ago, I took lectures from a former trader at the CME livestock pit. Mike used his favorite trade to explain the complex concept of inter-commodity spread. Here it is:
Beef and pork typically had a retail price difference of $1 per pound. For example, a...
Live cattle recently hit an all-time high, leaving us wondering if the rally has gone too far. The front month contract reached 177 on April 13, surpassing the previous record set in November 2014. Meanwhile, lean hogs have been trading lower since last year.
One way to assess this trend is to look at the spread between the two livestock markets. Both the...
There are only 3 inflation scenarios that will happen till the end of 2023:
i. Improve CPI to 2%
ii. Range CPI to hover between the band of 5-8%
iii. Continue to trend higher breaking above 9%
Many investors believe scenario (i) & (iii) will be unlikely.
70% of the investors feel that CPI should settle unchanged from how the year started at between 5%-8%....
