Live Cattle The February Live Cattle made a weak attempt to rally above the 123.125 resistance level on Thursday, January 4, 2018 trading to a nominal new high for the up move at 123.625. Once again it couldn’t stay above the 123.125 key level. After making several attempts to launch to the next resistance level, buyers gave up and price …
Strength in Metals
Gold settled higher Thursday in the third trading day of the new year continuing the momentum from earlier this week. The ADP December jobs reports was released today showing strong employment growth surpassing expectations and the highest levels seen since March. This led stock indices to sustain their charge forward, but was shrugged off by the gold market. Global construction …
“Baby it’s Cold Outside”: February Natural Gas
February Natural Gas Don’t read to much into the title of my article. It is not a statement about Mother Nature playing a role in the direction of the natural gas futures market rather I just thought it was catchy. When I spend time looking for directional clues in any market I focus solely on structure, location and …
“Black Gold That Is” ? : Crude Oil Futures
February Crude Oil The Beverly Hillbillies striking of “black gold” elevated them to the highest of social classes. As it relates to the current state of today’s crude oil market I do not believe one stands to capitalize in any grand sense by delving into a long position at these levels. On my longer term price charts (weekly) …
Livestock Levels
Live Cattle The February Live Cattle contract spent Wednesday, January 3, 2018 trading within the Tuesday range. Price opened (123.325) above but couldn’t stay above the 123.125 key level. It made the session high at 123.35 (just below the Tuesday high at 123.50) and made its way lower, trading to the low of the day at 122.35 (just above the …
Grain Spreads
Soy Complex Calendar spreads in both corn and soy continue to trade sideways as old crop versus new crop spreads haven’t offered much in the way of longer term opportunity. The July/Nov 18 Soybean spread continues to trade at a slight inversion but with recent blips up to 10 cents over have been met with selling. This tells me the …
Large Ag moves. Where are they next ?
There exists the potential for a couple large scale opportunities in the near to medium term in my opinion. As always quantify the risk one is willing to take. The oilshare is one longer term large scale opportunity that can unfold. With the global market awash in soy, and with crush margins at lofty levels, the incentive to crush is …
Juice- Freshly Squeezed Longs
Juice- Freshly Squeezed Longs? Cat Caterpillar pays 4% income tax! Front page WSJ but fear still, they pay it to Switzerland! No money to US coffers for mundane things like Amtrak Bridges or schools. These GCI’s are the ones that say 39% Corporate is so high in US. Are US citizens being hurt by tax evasion? Jury out. This …
Livestock Levels
Live Cattle The February Live Cattle contract started the New Year on a high note, opening (122.25) above the Friday settlement (121.55) and never looking back. The Tuesday, January 2, 2018 trade took its cue from aggressive buying late Friday in the cash market. Live sales took place at 123.00 and dressed sales came in at 195.00. This was 3.00 …
Gold Continues Rise in First Trading Day of 2018
Gold Continues Rise in the First Trading Day of 2018. Happy New Year! A fall in the dollar and increased inflation expectations pushed gold higher in the last week of 2017 leading to the highest close in 3 months with the gold spot price returning over 13% in the full year 2017 marking the second year in a row with …