I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
Live Cattle and Feeder Cattle markets had a down week, breaking 10 and 6 week “winning” streaks, respectively. Fundamentally, conditions are still bullish, but the technical is Cattle futures are weakening. Lean Hogs posted a new contract high close on Friday and seem to have good bullish momentum. Corn and Soymeal are lower this morning, adding to the mild losses from Friday. Soybeans, Soybean Oil and Wheat are trading higher this morning. Keep an eye on the KC/Chi Wheat spreads for signs of a bullish turn. Grain traders await Friday’s USDA data, with the September WASDE coming out at 11 AM CT.
My charts indicate weekly trading signals in Lean Hogs and US Dollar Index futures. My daily charts indicate a new trade signal in Feeder Cattle.