Managing Price Risk

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The basis against the August board is about $2.00 higher than usual at this time of the year. Only 2 years in the past 16 has August cattle expired at or above $75.00. The current chart pattern has an almost text book appearance of a Head & Shoulders. This type of pattern is bearish. The feeder cattle market appears to be the weaker of the complex. Since the initial $2.80 decline basis October, feeders have simply traded in a wide, sideways pattern. I anticipate feeders breaking lower and have calculated targets to $86.32. Every day I post a commentary on the live cattle, feeder cattle, and feed grain markets. Feel free to visit my web site and view the commentaries. No pass word is needed. <A HREF=""></A>
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