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Jim Wyckoff's Weekly Cattle, Hog Outlook

29 May 2014
Jim Wyckoff Commentary -  TheCropSite

ANALYSIS - On Friday, the one to watch is CME live cattle futures - if it is at or near the weekly lows this could indicate a near term top is in place, reports Jim Wyckoff for TheMeatSite.

Wyckoff said cash cattle prices may also have hit a near top top as well.  Sales for boxed beef have been light this short holiday week. 

June and August hog futures have seen downside price action this week. Serious near-term technical damage has been done in the August Lean Hog contract and could be an indicator that the market has put in at least a near-term market top, said Wyckoff. Cash hog prices are also under pressure.

TheMeatSite News Desk

IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any traders and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature.

Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): 1. Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you.

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