Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The October Lean Hogs continued its downward slide, making a new low for the down move on the continuous chart. Another limit down move sent price below the 200 DMA (73.23) all the way past the 71.325 support level to the low and settlement at 71.00. The trading range will expand to a 4.5 handle limit for Thursday’s trade. …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The October Lean Hogs continued its downward slide, making a new low for the down move on the continuous chart. It traded down 3.425 handles, more than the normal daily limit to 73.025 for the session low. This is just below the 200 DMA at 73.15. It tried to bounce and get above the 75.00 handle a couple of …

Grain Spreads: Waiting Game

Sean Lusk General Commentary Leave a Comment

Corn, Beans, and Wheat have succumbed to seasonal type selling as funds have sold rallies amid weak demand, and lack of a sizable weather scare. It’s not to say we don’t have issues in the US and abroad that could reveal lower crop sizes down the road. For now though the markets probably take a wait and see approach. Corn …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The October Lean Hogs contract gap opened lower, closed the gap then collapsed. It traded down to and settled down limit for the day. The settlement price was 76.45. There is support at 76.175 and then 75.60. A break down below 75.60 could see price continue its tumble down to 74.25 support level. If support holds consolidation within the Monday …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The October Lean Hogs contract consolidated yesterday’s gains, trading down to support at 80.40 making the low just below it at 80.375. It made the high at 81.975. It settled at 80.85. A failure from the low could see price test support at 79.80 and then the rising 21 DMA now at 79.11. Support then comes in at 77.80. …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The October Lean Hogs contract broke out above the 80.40 resistance level, nearly going limit up and making the high of the day at 81.875. It settled at 81.80. A failure from settlement could see price test support at 80.40. Support then comes in at 79.80. A rally above the high could see price test resistance at 83.325. The …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The October Lean Hogs contract opened higher and rallied to resistance at 80.40, making the high of the day at 80.275. It failed and broke down to the session low at 78.075. This is just above the 77.80 support level. It recovered and settled at 79.20. A failure from settlement could see price retest support at 77.80. Support then comes …

Growing Season Length

Steve Bruce General Commentary Leave a Comment

                                There’s still a long time to go with the corn and bean crops before they are safely stored in the bin. The trade is already talking about the possibility of an early frost as it would put a cherry on top to all the problems we’ve encountered with planting and development with the weather extremes this year.  Of course, …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The October Lean Hogs contract is now the lead contract as its volume has overtaken the August contract. It opened the session at 77.075 and broke down to the session low at 76.125. This is just below the 76.175 support level. It reversed course and rallied to the high of the day at 79.475. It settled at 78.925. A …