I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
Livestock futures all traded higher on Friday. Live Cattle and Feeder Cattle rend to decline in value during the month of August, we’ll have to see if the seasonal hold true for this year. Fundamentally, cattle markets are very bullish, I think. Lean Hogs posted a nice bullish reversal on Friday. Corn and Soybeans continue to remain weak, as weather forecasts look good for crop development. Soymeal is in a bit of a short-covering rally and Bean Oil is doing the opposite, perhaps targeting the gap down at 51.19 in December Bean Oil. Wheat markets closed weak on Friday, but have spiked lower overnight and finished the overnight session at/near the highs. Could be a rally brewing in Wheat. Since Friday’s post, my charts have generated new trade signals in Cocoa, 10-Year Notes and Nasdaq futures.