From Inside Futures:
Live Cattle Futures--- Live cattle futures are lower for the 5th consecutive trading session down 100 points near a 2 year low currently trading at 126.10 hitting another contract low as their seems to be no end to the downside. Cattle prices had a very volatile trading session with almost a 400 point trading range filling the price gap that was created in Friday’s trade earlier in the session than selling off sharply ending the day on a very sour note....
I get so tempted to bet on a counter-trend move in these types of situations but looking at the chart gives little guidance, it sure would be nice to have Hillary to consult.*
The front contract settled at 125.675 -1.475
*The former Secretary of State famously ran $1000 to $100,000 in ten months of astounding cattle futures action:
"This is like buying ice skates one day and entering the Olympics a day later," 'says Mark Powers, editor of the Journal of Futures Markets. "She took some extraordinary risks."
