I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
Live Cattle posted a very strong close on Monday, settling above the highs from Thur-Fri last week. TO my eye, that seems like a bullish breakout. Feeders closed nearly limit up, as well. That market didn’t make a break out just yet, but looks very strong. Prices have been declining for the past two weeks, there’s a Cattle on Feed report due Friday after the close. I could be wrong, but I don’t think we’ll see any signs of herd expansion, which should re-ignite the bullish trend. Grains are all higher this morning. Yesterday was a mild setback for prices, following the mostly bullish reaction to the USDA report from Friday. Soybean Oil seems to be making another bullish turn higher, and Chicago Wheat is trying to rally, as well. The Fed meeting begins today, with an announcement on interest rates dues Wed. at 1 PM CT.
My charts indicate new trade signals in Soybean Oil, Wheat and Unleaded Gas (RBOB) futures this morning.