Livestock Report

Ben DiCostanzo Grains, Livestock Leave a Comment

Live Cattle The June Live Cattle contract made another new low for the down move on Wednesday, March 27, 2018. It traded down to 104.50, near the low end of the 104.85 – 104.20 support zone. It rallied off the new low to the high of the day at 106.425, just above resistance (106.025). Once again the rally failed; as …

Grain Spreads

Sean Lusk General Commentary Leave a Comment

Wheat/Corn Tomorrow at 11 am the USDA will release its prospective plantings and quarterly stocks estimate for it annual end of quarter report. Pre-report planting average trade guesses come in as follows for wheat. All wheat acres at 46.5 million vs 46 last year. Winter wheat 32.5, durum 2.3, spring wheat 11.5. Average est. for all wheat stocks as of …

Gold Pulls off Monthly Highs

Michael Bullion Currencies, Precious Metals Leave a Comment

Gold retreated today in a continuation from Tuesday, falling from monthly highs seen on Monday.  Markets seem to be getting more comfortable with trade negotiations and geopolitical risks as Trump has been willing to negotiate with individual countries, and there are even inklings that North Korea may be amenable to denuclearization.  This is turn strengthened the US dollar and further …

Livestock Report

Ben DiCostanzo General Commentary, Livestock Leave a Comment

Live Cattle The June Live Cattle contract down move stalled on Tuesday, March 27, 2018. It opened (105.325) above the 104.85 – 104.20 support zone, traded to the low of the day at 104.90 and then rallied above resistance (106.025) to the high of the day at 106.675. The high was reached in the last 10 minutes before settlement. The …

Livestock Report

Ben DiCostanzo General Commentary, Livestock Leave a Comment

Live Cattle The June Live Cattle contract made yet another new low for the down move, trading to a low of 104.70 on Monday, March 26, 2018. The breakdown in the market took place after an early rally took Live Cattle up to the high at 107.30, which is the half way point of Friday’s range. The rally exhausted itself …

Rio Bravo : April Live cattle

John Lunney General Commentary Leave a Comment

April Live Cattle      A small-town sheriff in the American West enlists the help of a cripple, a drunk, and a young gunfighter in his efforts to hold in jail the brother of the local bad guy is the theme of an 1959 John Wayne movie named Rio Bravo. In the April live Cattle the villain has also come …

Grain Spreads

Sean Lusk General Commentary Leave a Comment

Soy Complex Beans continue to get downgraded in Argentina as needed expected rains continue in central and southern region growing areas. Argentina’s largest grain exchange lowered bean production to 39 million metric tons from 42 million last month, with the USDA at 47 earlier in March. Friday’s reversal in soy meal from 360.0 Friday morning to an overnight Monday high …

Gold is the New Green

Michael Bullion Currencies, Precious Metals Leave a Comment

Gold continues its recent advances settling in the green to start the week posting new monthly highs at the same time.  Geopolitical tensions and a weakened dollar remain the main reasons for price support for the yellow metal.  The USD slid this morning to a one month low despite easing tensions with China over tariffs.  Gold keeps its momentum going …

Trade Alert For Hogs, Sooie

Michael Bullion Livestock Leave a Comment

Lean Hogs have gotten just hammered recently with tariff and trade war fears on top of already weak fundamentals, but the fall may be a bit of an overreaction into oversold territories.  Maybe it’s not and more tariffs or supply fundamentals could have it fall further.  April hogs are trading at a large discount to the cash market, which is …