Live Cattle - Top ?

Now that's a great trading market.....look at that wicked move at 9:30 today....wow.
....that's not a picture of strength.

 

Still good day trading patterns in market but volume as gotten smaller

 

Both Dec and Feb cattle fairly strong....holding above $1.65 level.

 

Same old, same old. Cattle not moving much at all.

 

New highs I believe.....
how high can we go boys ?

 

Feb now the strongest month as we head into record high territory.
This market is being bolstered by the strong equity market which is expecting a strong economy next year.
As always: BEWARE OF EXPECTATIONS vs. REALITY.

 

I'm long on the -Feb/+Apr seasonal play. Spread has tended to rally for this time of year, wondering if new highs will change that though or if it will play out.

 

I am still selling new highs and hedging, eventually will find highs.

 

OK boys...I hope both positions work-out.
I remember trading the Apr-Jun spread years ago.....that was pretty wild.
Until we see a drop-off in demand of significant proportions, it will continue above 160....that's my call.

 

1.70 is proving to be a resistance point. I see we're off a penny now from that level.