I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
Markets closed tomorrow for Juneteenth. Live Cattle and Feeder Cattle markets hit with aggressive selling pressure on Tuesday. Based on those closes, I would expect more liquidation pressure today. Cattle on Feed Report on Friday afternoon, estimates indicate 99% for all Cattle on Feed, 94% for Placements and 90% for Marketings. If the data comes out in line with those estimates, I would think that would be fundamentally bullish. Grains mixed overnight, with mild strength in Bean Oil and Wheat. FOMC meeting ends today with an interest rate announcement at 1 PM CT. The market seems to be expecting no change from the Fed this time around.