12/6/24 The Fats closed a little lower on a slow trading day. February’25 Live Cattle were 15 cents lower today and settled at 186.17 ½. Today’s high was 187.00 and the 1-month high is 190.05. Today’s low was 186.00 and the 1-month low is 184.40. Since 11/6 February’25 Live Cattle are 70 cents lower or almost ½%. The Feeders had …
Grain Spreads: Double Demanded Corn
Please join me for a free grain webinar every Thursday at 3pm Central. We discuss supply, demand, weather, and the charts. Sign Up Now Commentary Corn prices remain supported by yesterday’s technical reversal on the charts, while rising palm oil prices continue to support soy oil in my opinion as these two markets have a “Story” to warrant higher prices …
Chart of the Day – February Live Cattle
The information and opinions expressed below are based on my analysis of price behavior and chart activity Thursday, December 5, 2024 February Live Cattle On Thursday, the February Live Cattle closed down 2.000 at 186.325. That the lowest close since November 18th. As you can see on the chart above, the red trendline resistance, drawn off of the March and …
Crude Digests Inventory Data, While OPEC+ Delays Till April – WTI Crude Oil
The January WTI (CLF25) trading session settled at 68.30 (-0.24) [-0.35%], a high of 69.16, a low of 67.98. Cash price is at 68.56 (-1.34), while open interest for CLF25 is at 298,906. CLF25 settled below its 5 day (68.62), below its 20 day (68.98), below its 50 day (69.82), below its 100 day (70.68), below its 200 day (73.42) and below …
Fat Cattle Gameplan December 2024
For those interested I hold a weekly livestock webinar on Tuesdays and my next webinar will be Tuesday, December 10, 2024, at 3:15 pm. It is free for anyone who wants to sign up and the link for sign up is below. If you cannot attend live a recording will be sent to your email upon completion of the webinar. …
Fat Cattle Gameplan December 2024
Given the Fed mandate and intention of taming inflation amid a rally in the US Dollar, the last area in our view that we have seen price pressure has been in the livestock markets. A few reasons in our view for the three-month rally that began in early September. Per USDA, Cash Cattle prices are up over 20 cents from …
Chart of the Day – January Soybeans
The information and opinions expressed below are based on my analysis of price behavior and chart activity Wednesday, December 4, 2024 January Soybeans January Soybeans settled the day down 8 cents at 9.83 ¾. Uncertainty over “Trump Tariffs” and what they may, or may not, do to or for US Ag business has market participants on edge. The weather in …
Grain Spreads: Wheat Rumors
Please join me for a free grain webinar every Thursday at 3pm Central. We discuss supply, demand, weather, and the charts. Sign Up Now Commentary Wheat futures probed and successfully traded new contract lows, but the dip was short lived as “leaked” data regarding the Russian wheat crop brought in modest buying from funds to close the day just above …
Reuters Sources Say OPEC+ Production Delay Is Likely- WTI Crude Oil
The January WTI (CLF25) trading session settled at 69.94 (+1.84) [+2.70%], a high of 70.23, a low of 67.91. Cash price is at 68.10 (+0.08), while open interest for CLF25 is at 328,618. CLF25 settled above its 5 day (68.71), above its 20 day (69.27), above its 50 day (69.86), below its 100 day (70.85), below its 200 day (73.46) …
Chart of the Day – Feeder Cattle
The information and opinions expressed below are based on my analysis of price behavior and chart activity Tuesday, December 3, 2024 January Feeder Cattle After starting the week off with a drop of 2.625 on Monday, January Feeder Cattle rallied back up by 2.450 to close at 259.30 on Tuesday. Setting aside Friday’s holiday-shortened session, this is the highest close …