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THE WINDY CITY
TRADER
P.O. Box 1673, Chicago,
Illinois
(October 28, 1997) CATTLE: Seasonal
tendencies and short covering pushed December live cattle from 6550
to 6800. The recent storm in the Midwest also slowed supplies
temporarily. The fact remains that there are 15% more cattle on the
feedlots than last year with demand about 6% lower than last year.
We are looking to sell December futures just under 6800. Hogs
rallied 300 points in 3 trading sessions on short covering and a
large export order to Russia. We could see a pop up to 6400 basis
December before meeting resistance. Currency problems in South
Korea and Japan could hurt exports here long term so be
careful.
Stephen Connell and William
FrejlichCOMMODITY REVIEW AND OUTLOOK
Cattle
ALLENDALE, INC. |
GLOBAL ASSET MANAGEMENT
COMMODITY REVIEW AND OUTLOOK |
COMMODITY RESOURCE CORPORATION
ING DERIVATIVES CLEARING |
IRA EPSTEIN & COMPANY
TAURUS COMMODITIES |
THE WINDY CITY TRADER
Livestock |
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