I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
Live Cattle and Feeder Cattle maintained bullish momentum through the close last Friday. Charts still seem bullish and supply side fundamentals are still pointing toward higher prices, however Boxed Beef prices were lower this past week. Both Feeders and Fats are close to trendline resistance, but bulls seem to have control. Lean hogs dropped aggressively on Friday, October Lean Hogs may try to seek support near the 50-day average (90.000-ish) but the February highs near 87.000 may be a more likely target. Grains spiked lower on Sunday night, with most markets setting “new lows” for their respective trends. They are now trading higher, as we finish the overnight session, setting up a potential “Bullish Reversal” day. Silver market remains strong, as does Crude Oil, Unleaded Gas and Diesel, this morning.