I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
New Contract highs and Contract highs closes in both the Live and Feed Cattle futures on Tuesday. I understand that these are very lofty levels for Cattle and Beef prices, but I see no sign of bearish activity, currently, and expect those markets to continue higher. Lean Hogs closed at two week lows yesterday and I would expect to see a new trade signal on my charts on the open this morning. Hogs look weak to me. Grains don’t have much to be bullish about. Corn posted a contract low close yesterday, Soybeans remain weak and Wheat prices keep falling, as well. Bean Oil is the only bullish story in the Grain/Soy grouping that I’m aware of. That posted new highs for the move yesterday, forcing Soymeal to new contract lows. My charts have new signals in the US Dollar Index and RBOB (Unleaded Gas) today.