I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
New contract highs and new contract high closes in Live Cattle and Feeder Cattle, following Friday’s trifecta of bullish USDA data. Live Cattle did post a near Doji (price equilibrium day) which offers a little caution to the bulls, but the fundamentals (supply) and cash trade for slaughter and feeders remain strong. Lean Hogs closed higher on Monday, finding good buying interest on weakness. That leads me to believe that prices may trade higher. Grains were weak on Monday, with Corn posting the 2nd lowest close for the December contract and Soybeans dropping 9 1/2 cents. Crop conditions are decent and the weather is supposed to cool off just a bit in the coming week. Winter Wheat is about 80% harvested, at this point in time. Chicago Wheat managed a small gain yesterday, with KC Wheat posting an equilibrium day. Both are weak this AM, with Chicago finishing the overnight session down 7 cents. My charts indicate new trade signals in Wheat, KC Wheat, Gold, Silver, Platinum and Crude Oil this morning.