August 4, 2024

This past week both Feeders and Live Cattle made the decisive break I have been expecting…To START what I believe will be large percentage, relatively straight down collapses…Oct Feeders closed down 11.5 cents ($5750 per futures contract) for the week, and Oct Live Cattle were down 6.5 cents ($2600 per futures), which may seem like a lot…but it’s not…as I see both markets having a LONG, LONG way to go from here between now and year end.

As I have been saying, and documenting, when Cattle start down, they DON’T mess around…so if you do want to get short, what you don’t do is sit there hoping for some sort of glorious last rally to sell into…YOU GO WITH THEM HERE…AND RIGHT NOW.

If you have been watching this…and think my opinion makes sense…and have the capital to risk…I urge you to GET SOMETHING ON HERE.

I have no idea what tomorrow’s opening will look like, but these are options I like based on Friday’s closes…

Regarding my trading targets in both markets, the two charts following remain as my primary reference point…And as I actually believe there is a decent historically based possibility of both markets eventually retracing 75% of their most recent bull markets (to about 160 in Feeders and 120 in Live), I AM minimally looking for something like 180 and 140 respectively.

If ever there was an epitome of “Buy low…SELL HIGH,” I say you’re looking at it…I also say, “Don’t overthink it,” and DON’T sit there hoping for a better place to get short. YOU GET SHORT HERE…

Call me if you want to get a piece of this…

Thanks,

Bill

770-425-7241

866-578-1001

All option prices in this newsletter include all fees and commissions. All charts, unless otherwise noted, are by Aspen Graphics and CRB.

The author of this piece currently trades for his own account and has a financial interest in the following derivative products mentioned within: Feeder Cattle, Live Cattle