Cattle futures broke down hard as Cattle on Feed estimates shook the market with the realization that the “on feed” numbers are expected to remain elevated for the near future. This continues to keep the pricing power in the packers’ hands as cash cattle traded at 173.00 on a dressed basis and 109.00-109.50 for live cattle. It wasn’t a large …
Grain Spreads: Limbo
How low can we go here? Beans and Corn are in free fall so far this week and to me it seems that trend and index following funds could push this market lower until there is a reason to buy. With a Chinese delegation in Washington DC this week, the soy complex could use a shot in the arm regarding …
Livestock Report – Feeder Cattle
Cattle futures have been consolidating with a downward lean as the supply vs demand battle has (so far) been fought to a draw, in my opinion. With ample supplies of cattle and excellent demand for beef, cash prices have also remained in a trading range. The cattle on Feed report comes out on Friday after the close of trading. Pre-report …
Coffee going down fast
Good Day, Coffee has been going down fast lately for those speculators watching this, you might want to give me a call. Two levels here to watch. Today’s 96.86 low is .05c off yesterday’s my olive line technical low. I have been asked about coffee lately and here is my spin. I have a blue diamond condition as this market …
Great Kabuki Theater: Part 1 Weather and Wyoming
The information contained on this site is the opinion of the writer and obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices. In my opinion the grain markets are on hold waiting for political news on Chinese …
Livestock Report
Live Cattle On Monday negotiated cash trade was mostly inactive in all major feeding regions. Monday afternoon beef cutout values were higher to sharply higher on moderate to good demand and moderate offerings. Choice was up 2.60 at 213.98 with Select up 1.37 to close at 202.29 on 101 loads. The choice/ select spread widened to 11.69. The hide and …
More Seeding’s?
The information contained on this site is the opinion of the writer and obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices. It’s a tool, not a toy! I’ve heard it from my parental units and I’ve said it …
Grain Spreads: Two Annoucements
Headline Driven was the theme for the week for grains as beans and wheat pivoted hard from mid week lows to finish higher. Last Friday I was considering hiring a bugler to play TAPS regarding corn, bean, and wheat prices as the USDA submitted overly bearish data in their monthly supply/demand report. Beans looked like the weak link off the …
Livestock Report
Live Cattle Packers continue to be able to squeeze producers as box prices are rising and they are still able to pressure cash prices lower, giving themselves a nice profit. With cattle perceived to be at ample levels, packer leverage is high. Even though demand has been high, they are able sell traders on the idea that demand could disappear …
Livestock Report
Live Cattle On Tuesday August 14, 2018 the October Live Cattle contract traded back into the 112.25 – 108.175 trading range, climbing up to the Monday high (108.85) and settling nearby at 108.725. It stayed above the 107.35 support level again, making the low at 107.90. It also formed a bullish engulfing candle. A break down from settlement could lead …