We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.
Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.
Livestock Futures--- Livestock futures are under pressure today with live cattle in the April contract down another 230 points today trading at 125.70 a pound hitting a fresh 11month low trading far below its 20 and 100 day moving average and now looking to retest support at 125 which was hit on 4/27/12 and in my opinion will break those lows and possibly head down to 120 a pound. Feeder cattle prices have been plummeting in recent weeks down another 220 points in the May contract at 141.00 a pound continuing its bear market hitting a 1 year low as traders are thinking prices are still historically too high. Lean hog futures for the June contract are down 130 points 89.25 trading lower also hitting an 9 month low now looking at support around the 86-88 level with traders selling livestock futures in recent weeks and in my opinion I do believe prices are headed lower but remember to place a stop loss in case the trend turns around trying to minimize your risk because there is extreme volatility. Continue reading "Weekly Futures Recap W/Mike Seery"