Issued: 03/11/2016
April live cattle:
1. Our previous report indicated that Thursday, March 10 April live cattle closed well, indicating new long entry for the likelihood for higher prices including $138.95/$139.15 into Monday/Tuesday, March 13/14.
2. Today’s (Friday, March 10) April live cattle completed both $138.95 and $139.15 upside profit targets, successfully completing the forecast/trade (today’s session high, $139.72, so far).
3. Aggressive can hold any remaining position for the possibility of higher prices and a trend following exit. The protective stop should be moved to $139.10.
David Williams
Issued: 03/10/2016
April live cattle:
1. Today’s (Thursday, March 10) April live cattle advanced higher and closed well, indicating the likelihood for higher prices into Monday/Tuesday, March 13/14.
2. Those higher prices include $138.95/$139.15 (or higher). Any new trade based upon this is outlook considered aggressive.
3. An initial protective sell stop should be placed at $137.70. This stop will be moved higher as the market continues to confirm.
David Williams