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Livestock markets seemed to find support on Monday, with Feeder Cattle leading the way higher. Strong gains in Live Cattle are pointing both to further gains, in my estimation. Less cattle and more people to feed is still a bullish combination. Lean Hogs bounced off of 50-day moving average support for the second time in 3 sessions, indicating strong support there to my eye. At the moment, I like all of the Livestock markets to the upside. Grains did get Export Inspections yesterday, amid confusion about what USDA reports are or are not available during the shutdown. The WASDE report, scheduled for Thursday, is till on hold. Export Inspections were somewhat friendly for Corn. Seasonally, Corn, Soybeans, Soymeal and Bean Oil all tend to trend higher this time of year. Producers that are selling bushels of Corn Or Soybeans off of the combine should consider re-owning those bushels through Call Options, with an eye toward those seasonal gains. Call me for details or suggestions
My charts indicate a new trade signal in Feeder Cattle this morning.