Are Cattle In Trouble?
Presented by Heartland Investor Capital Management Inc. CTA
Corn:
Corn held its wave four correction, showing potential for wave three of wave five up.
Resistance at 446.75; breakout targets 460-465 for potential sales.
Basis weakness might recover post-New Year; highs likely in April-May.
Soybeans:
Soybeans bounced after testing critical trendline support dating back to 2019.
Resistance lies at 976-981; a break higher would challenge bearish outlook.
Watch for Argentine dryness or fuel demand to spark further rallies.
Wheat:
Chicago wheat hit new March contract lows, nearing critical support at 514.
Russian wheat prices rising; global supplies could tighten after the New Year.
Thin trading might exacerbate volatility into year-end.
Cattle:
Feeder and live cattle broke lower, testing key trendlines and 200-day moving averages.
February cattle risks deeper corrections if support at 184.40 fails.
Feeder cattle could drop to 247 if resistance at 260 persists.
Gold:
Gold dipped below its 78-day moving average, pressured by a strengthening dollar.
Rebound needed by next Tuesday; otherwise, further declines to 2500 possible.
Dollar strength near 110 could prolong gold's downturn.
Provided by:
Eugene Graner,
Heartland Investor Capitol Management, Inc., CTA
(A separate entity from Heartland Investor Services)
Past performance is not indicative of future results. The information contained in this report is intended for informational purposes only and is the opinion of the writer and may change at any time. This information was compiled from sources believed to be reliable to Heartland Investor Capital Management, Inc. but accuracy cannot be and is not guaranteed. There is no warranty, expressed or implied, in regards to this information for any particular purpose. There is SIGNIFICANT RISK of LOSS involved in trading futures and / or options on futures and may not be suitable for all investors. Investors should consider these RISKS and evaluate their suitability based on their financial conditions. No one should ever consider trading futures or options on futures with anything other than RISK CAPITAL. NO LIABILITY on the part of the author exists for any trading loss you may incur in the use of this information. The information contained in this newsletter is privileged, confidential and protected from disclosure. Any further disclosure or use, distribution, dissemination or copying of this message or any attachment is strictly prohibited. Provided by Heartland Investor Capital Management, Inc. a registered CTA with the NFA, of which Eugene Graner is principal. This entity is a separate legal entity from the Introducing Broker Heartland Investor Services.