December Live Cattle The December Live Cattle market traded in an uninspiring tight range today. Prices dipped to 122.000 in early action posting a modestly new weekly low at the upper end of the targeted support level. During the rest of the session a narrowing price action developed as it rode the rising pitchfork line to finish at …
Ag Outlook
USDA report in the rear view mirror now. There were no surprises, but some important aspects. The yield was as expected, unchanged. Carry drops 5 million to 425. This is important that we stay above 400 million. The next question is will the US export figure remain 2250. The answer is determined by the south American crop. It is my …
Livestock Report
Live Cattle The December Live Cattle contract broke down below the 124.70 support level on Wednesday, November 8, 2017. It traded down to the session low of 122.15, which is just below the 123.125 support level and the rising 13 DMA (122.85). It was able to bounce from here (late session rally) and it ended in between the 123.125 support …
Daily Gold Report
December Gold futures rallied on Wednesday posting a daily gain of $7.90. Silver again pushed through the 17.00 level again and made a new weekly high at 1726.5 before pulling back near the close to end the day session at 1713.5 basis December futures. Rumors out of Washington that spoke of top congressional leaders pushing back a possible delay in implementing …
Macro Trading Assessing Social mood
Macro Trading Assessing Social mood Budget deal can turn immediately. I think you need to be ready with margin money ready to deploy at my olive extremes that present value while I’m looking for at least 5x ‘return on money risked (per bet expected return). I measure against margin money posted also which I look at a little differently. This …
Livestock Report
Live Cattle The December Live Cattle contract broke down below the 124.70 support level and the rising 8 DMA (124.75) on Tuesday, November 7, 2017.It traded down to the session low of 123.50, which is just above the 123.125 support level. It was able to bounce from here (late session rally) and it ended above the 124.70 support level at …
Sideways Glance: December Live Cattle
December Live Cattle Today’s trading action in the December Live Cattle market saw slightly weaker prices.I believe we are in the midst of a complex 4th wave correction of a larger 5th wave extension. Elliott Wave rules of alternation state the if the first way is simple in structure than the preceding 4th wave is complex. Many of …
Ag Overview
The markets are awaiting the USDA report on Thursday. Perhaps it remains quiet until then. Where do we go from here ? My observations are that most think the corn will go lower based on a increase in yield. Most think the bean crop is drawing down due to late yield reports that show a decline. It is my belief …
Technical Analysis, Does it work? All mkt update
Crude- steady on the year might be simple enough if you have not been short and think the US is energy dependent, or more than before. The event that just crushed shorts could seem like a good short since I can make a case that nothing has changed. Notice the relentless pattern denoted by the red diamond. If looking to …
South America and Australia Grain Weather Update from WxRisk.com
For the complete report, CLICK HERE. For those interested in Grains and Livestock, every Thursday, Sean Lusk, Director Walsh Commercial Hedging Services and Ben DiCostanzo, Senior Livestock Analyst host a FREE Grain & Livestock Outlook webinar. Sean and Ben will hold their next Grain & Livestock Outlook webinar on Thursday, November 9th. REGISTER NOW. If you cannot attend live, a …