I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
Live Cattle and Feeder Cattle traders digested the Cattle on Feed data yesterday. Lower lows and lower highs were seen, but there wasn’t aggressive selling pressure. Fundamentals are still bullish, but cash prices have declined a touch. New contract high close in Lean Hogs should help to propel this market higher still. Grains are all in the red this morning. Crop condition report yesterday afternoon didn’t contain any bullish news. A flash sale of 630,000 MT of Corn to Mexico were just announced and didn’t make the video. New contract lows in nearby Corn months. Crude Oil, RBOB and Diesel market all post huge bearish reversals yesterday and are lower again, as of this writing, pressuring Bean Oil.