Live Cattle Monday’s trading action had Live Cattle test Friday’s high at 116.575 and fail. The inability to move past the Friday high sent the April Live Cattle market on a grinding path lower to test the 13 (115.50) and 21 (115.175) DMAs. The April contract stopped just short of the 21 DMA with its low of 115.225 and ended …
Quiet session in indicies
Tight Ranges rule the day Both the S&P and Dow had relatively quiet sessions on Monday. We saw consolidated trading through out most of the day. The Dow closed -25 at 20956, with only an eighty-six point range in the futures. The S&P 500 was fairly quiet as well, closing -5.75 on the day 2375.50, towards the middle of its …
soy complex john walsh
The Beans and Meal started higher today. Concerns over a port strike in South America was supportive. There is a regular occurance of these threats this time of year. In addition,rains in Argentina are viewed as supportive. The reality of the market is that the Southern Hemisphere crop is huge by all accounts. Not only Brazil,but the smaller countries as …
Walsh trading’s Weekly Grain Report
WalshWalsh Trading’s Weekly Grain Report March 3, 2017 Fund buying and the re-inflation trade dominated this week despite prominent analysts calling for larger South American grain stocks. The trade for the most part is eschewing supply/demand fundamentals as fund managers of all asset class types continue to use dips in the grain market as buying opportunities. The buying by managed …
Currency comment 3/6
A boring day in the currency market on Monday. Values traded on either side of unchanged on all of the majors. Volume of trade was light as traders sat on their hands waiting for market moving news. The big report this week will be on Friday when the Government releases the unemployment report for February. This report has become the …
Livestock Report
Live Cattle Friday’s trading action had Live Cattle trading down (low – 115.40) to test support at the 13 DMA (115.425) and recovering from there to end the week (116.025) just below resistance at the 50 DMA (116.25). With price between support and resistance, a move above the high or below the low could setup our next move. A rally …
john walsh soy complex
The soy complex has shown weakness over the last few sessions. The south american weather has been normal to good. The Brazilian crop continues to increase in size, while Argentina has stabilized in a respectable zone. Given the price relationship of beans over corn,it is estimated that domestic acres can climb significantly. The market is also mindful of a potential …
Currency comment 3/3
Friday saw a pull back in the U.S. dollar as traders sold to take profits before the week end. Many traders prefer to be even over a week end to avoid disruptive market news. The Fed says there is a fair chance of an interest rate hike in March. U.S. treasuries saw a small bounce on Friday after a down …
Daily Livestock Report
Here is the Daily/ Weekly Volume for cash trades for the Cattle Market: TX-10,329/16,022 head. Bulk for the week $124-$125 . KS-20,718/21,104 head. Bulk for the week $125. NE-21,801/34,788 head. Bulk for the week $124-$126. Dressed sales are 4.00 higher from last week, trading at $200. CO-4,560/8,554 head. Between $124-$126. IA/MN-7,899/8,311 head. For the week a few sales at $125, and …
Currency Comment 3/2
U.S Dollar moved to new highs for the move Thursday. The current bullish factor is the near universal expectation that the Fed will increase short term interest rates in March. It is interesting that the Fed is playing catch up to the bond market which has moved interest rates up in the last few weeks. Another factor in recent dollar …