I don't like the LC chart today

[burnt]

Opened higher, trader sharply higher and closed lower. Outside day on a short term downtrend.

http://farms.com/FarmsPages/Markets/tabid/214/Default.aspx?&page=chart&sym=LEG11

[ALLFARMER]

Is the spring price drop comming early? Usually it hits in March when I want to sell. Must be the high Canadian dollar making our beef more expensive to the American's I hope I am wrong cattle prices need to stay where they are for a couple years not a couple months

[burnt]

You got that right! Like maybe 4 or 5 years of higher prices?

Well it's O.K. to dream, isn't it? :-}

It's gonna take a while to fill the hole we dug since BSE.

[grassfarmer]

Look at this one instead:

http://charts.insidestocks.com/chart.asp?vol=Y&jav=adv&grid=Y&divd=Y&org=stk&sym= GFF1&data=H&code=BSTK&evnt=adv

I don't think there is anything to worry about - there is only one they are going and that is up.

[burnt]

I think so too Grassfarmer, but that is a bit of a strange one to see that type of action. Time will tell. Meanwhile, the cash market is strong, the calves are putting on pounds and spring is just around the corner.

Well - all but the last one ain't bad!

[greybeard]

the chart Grassfarmer posted really shows the predictability of the highs and lows with the highs coming around August and the lows coming in January and February on the long term chart.
It really goes against the trend to see highs in January. Where are we going from here?

[grassfarmer]

Rising price through what is normally a low point in the yearly cycle as well as breaking through a new level of support that hasn't been reached in the past decade indicates to me that this is going to keep rising.
The same happened in the UK around 3(?)years ago - prices really hadn't changed much in 10-20 years other than occasional up and down spikes and then they took around a 30% hike which has been more or less maintained. Our time has maybe come for a similar correction. What the effect on these prices will be due to the US/CDN $ difference is something I can't figure out.

[burnt]

That market wants to find support right about now.