This article is brought to you by:
ALLENDALE, INC.
4506 Prime Parkway,
McHenry, Illinois
(May 5, 1997) CATTLE: Yet another new life of contract high for the
feeders and August live cattle but late profit taking pulled some
of the gains out of the feeders. The event of commercial hedging
was noted today which put a lid on the live cattle market. After
active cash sales this week, packers may not be forced to bid up
early next week. Cool wet weather is also putting a damper on the
beginning of cookout season. However retailers will need to be
ready for Memorial Day weekend which is not that far away. We feel
the best way to approach the live cattle futures is to sell calls.
Look for trade updates early next week. Live cattle futures are
overbought and should be ready to correct within the first two days
of next week.
Paul Georgy
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