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10 consecutive days of gains in Live Cattle futures, marked by new contract highs. Feeders didn’t quite follow along and have been sideways for 3 closes. It’s Friday, those markets have been strong, watch fro Friday profit-taking in Cattle. Lean Hogs continue to trend down and seem headed for the 200-day moving average near 80.32. Corn has been rallying since Monday and is now back above the 100-day moving average. Perhaps the price gap near 4.33 will be filled sooner, rather than later. Soybeans are up, as well, but that chart looks like a mess to me and they need a better (bullish) story, in my opinion. Soymeal has been rallying, also. This market is typically the strongest to male a seasonal rally at this time of year. Bean Oil futures have been choppy with a vague trend higher recently. Wheat futures has seemingly stopped going down. They’re not trending higher, but haven’t set a new contract low since Tuesday, perhaps a mild victory for the Wheat bulls.
My charts indicate new trade signals in Russell 200 futures today. The signal in that market from yesterday was erased/negated by the close but has re-appeared on the chart today.