I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update! **this one’s a bit longer than 5 minutes, I do try to keep these a short as I can, but there’s a lot to talk about today**
Live Cattle futures closed lower and seem to be losing some bullish momentum. Feeders were up a few tick in August, but the rest of the contract months were lower. Lean Hogs appear to have posted a “tweezer top” over the past tow days. That’s not usually a bullish sign, I would expect weakness in Hogs. Grains got no bullish help from the WASDE yesterday. Mild strength overnight in Bean Oil (also pulling up Soybeans a touch) and Wheat due to missiles, bombs and drones flying between Iran and Israel. Those attacks have spiked the Energy markets sharply higher, Stock Index futures are lower and Gold is higher.
Happy Father’s Day!