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Hedging Corn and Soybeans

RSS By: Howard Tyllas, AgWeb.com

Howard Tyllas is currently a member of the Chicago Board of Trade and registered with the Commodity Futures Trading Commission as a floor broker and as a Commodity Trading Advisor.

December Cattle Daily Numbers & Trade Ideas for 11/2/09

Nov 02, 2009

 



This report was sent to subscribers on 10/31/09 8:00 a.m. Chicago time to be used for trading on 11/2/09. Everything is done by Howard Tyllas, no program or black box.

December Cattle

After the close on 11/2/09: My pivot acted as support and was 85.25, just .15 from the actual low, and my resistance was 86.42, just .17 from the actual high. Look at my comments though and you will see I thought the gap support would hold and we would go 1/2 way up to the resistance at 1091.50, only .25 (1 tick) from the actual high.

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87.00              crisscross up & down trend lines 

86.42             

--------------85.25      Pivot

84.07 FG                                      

 

 

      

Trend                         88.62 is the 200 day MA

5 day chart....….….  Down                      

Daily chart   ……….Down        

Weekly chart …….. Sideways   

Monthly chart …...  Sideways

ATR .92                    Oversold 16%  

 December Cattle Chart

 

The gap at 88.47 will be major resistance when coupled with the 200 day moving average at 88.65.

Downtrend line near 86.90 is resistance, the gap at 84.07 supports.

 In my daily numbers on Friday; my resistance was $0.40 from the actual high,

 Cattle: Numbers have been good, market oversold, looking for support. The pivot will act as good support Monday if above, but longer term bulls should have a sell stop below the gap at 84.07. I like the idea of selling near 86.60 with a buy stop above 87.00 to protect.

Late Friday I loaded my "market maker" CME platform (EOS) with cattle futures and found out what you livestock traders already know, they do more contract daily volume electronically than they trade in the pit. I loaded only a couple of options one of my producers have on and seen a market being made but no trades in those strike prices. I also noted it trades long after the open outcry closes. The EOS platform allows me to put in any option strategy, with any option strikes I want to use, and do a "RFQ" a request for a quote, and everyone can see that in the system, and a market maker or anyone else, can put out a bid and offer. You can enter a real bid and/or offer and everyone knows it is there. Not like in the pit where only the floor broker and the locals (floor traders) know it is there (your order). I will pursue this next week as I do have a few cattle and hog producers on my hedge book, and we use the options to hedge, and keep you informed on what I learn.

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           May Your Next Trade Be The Best                          

                     Howard Tyllas            

   Tel.1-312-573-2699, 1-312-961-4390



Disclaimer:     No guarantee of any kind is implied or possible where projections of future conditions are attempted. Futures trading involve risk. In no event should the content of this be construed as an express or implied promise, guarantee or implication by or from Howard Tyllas, that you will profit or that losses can or will be limited in any manner whatsoever. No such promises, guarantees or implications are given. Past results are no indication of future performance.

 

 


December Cattle for 11/2/09: 

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