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Judy Crawford: Meats Report

Published 02/04/2011, 09:58 AM
Updated 07/09/2023, 06:31 AM
APR HOGS :

They triggered a sell today from yesterday’s outside day and sold off to 90.50.. Keep stops at 94.00. Closed 91.55, up .15.
Position: Short 91.25 (2.3).
Projection: 87.00.

APR CATTLE: Last time I mentioned that the daily chart looked pretty good. What a difference a day or two makes! As usual, the true story could be in the long term charts as in my last report I mentioned that they suggested otherwise. Yesterday the cattle started to rally again on the daily and attempted to get over 115.00. They had the same reaction that they did when they made a previous attempt on Jan. 18. After getting to 115.85, they collapsed. They are trying to hold at their 20 day ma. Right now they look like they could be forming a 1,2,3 top formation. A trade could be developing. See Trade Alert for details. Closed 113.20, down .32.

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