Meat Complex overbot now ?

Discussion in 'Ag Futures' started by syswizard, Jun 14, 2013.

  1. We had somewhat of a breakdown today....after quite a run-up.
    Any opinions about direction from here ?
    Will a weaker economy have any impact on demand ?
     
  2. Just a visual to show people what we're looking at here:
    <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3824472>


    Not the kind of chart I'd be looking to short, plus there's the fact that industry insiders know a hell of a lot more about the real meats supply/demand picture than those of us who are accustomed to seeing our cows already shrink-wrapped and packaged at the supermarket. So I'm staying out of this one.
     
  3. Thanks for that. Uptrend still in-tact, but interestingly this chart looks almost identical to that of copper 8-12 weeks ago. It looked strong and then the fundies too over and down it went.
    So now the question, which to short: hogs or cattle ?
     
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