Cattle Loss Could Be Large

Live Cattle Futures---Live cattle futures in the June contract is trading higher for the 5th consecutive session settling up only 15 points at 122.72, however earlier in the day traded as high as 124.22 before profit taking ensued.

There are some private estimates stating that there were possibly 1 million calves killed due to the massive floods that we have witnessed in the states of Nebraska and Iowa as I still think with all of this uncertainty there as higher prices ahead.

Feeder cattle prices have also broken out of a multi-month consolidation hitting a 5 month high helping support prices in today's trading session as the whole sector looks to move higher in my opinion.

If you are long a futures contract continue to place the stop loss under the 2 week low standing at 117.90 as the volatility will remain extremely high and could even become more violent.

In the coming days ahead we certainly will have a better understanding of how disastrous this situation has become, but I'm certainly not recommending any type of bearish position as the momentum is very strong to the upside.

TREND: ---HIGHER

CHART STRUCTURE: POOR

VOLATILITY---HIGH

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: 5da1f85979b7117b

TWITTER---@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this linkwww.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.