Cattle markets were on hold Wednesday 8/29/2018, consolidating within the Tuesday ranges. October Lean Hogs made an attempt to retrace some its losses but failed and settled below the 51.80 support level. The cash trade in cattle has been quiet all week, boxed prices remain firm and slaughter levels are steady as packers are in control of the market with …
Livestock Report
The excitement over the US – Mexico trade agreement withered away rather quickly as October Lean Hogs gap opened higher and then collapsed, trading below the Monday low and the Cattle markets ate into their bullish candles, erasing most of the gains before a late day rally left cattle on firmer footing. The naysayers came out in force on Tuesday, …
Livestock Report
Lean Hogs and the Cattle markets responded positively to the announcement of a trade agreement with Mexico. Lean Hogs traded up limit in the first two contacts and the October Live Cattle briefly going limit up were the highlights for the day. Feeder Cattle traded strong across the board but didn’t come near it up limit levels. Lean Hogs will …
Grain Spreads: Who’s Chasing?
Corn, Beans, and Wheat were down appreciably on the open this morning. Corn and Beans were able to trade-off the lows to finish 1.2 cents lower on Dec corn, while Nov 18 beans finished 7 cents lower. Wheat was the weakest here down 14 cents in Chicago, KC down 16, Minneapolis down 11.4. Managed funds have sustained a long in the …
Livestock Report – Cattle
With a bearish outlook for the Cattle on Feed report and cash trade all but complete nervous traders pounded the futures markets on Friday, August 24, 2018. Pressing the markets all session, sellers took price down towards support at 106.025, making the low just above it at 106.475 for Live Cattle. Feeders traded below trendline support (146.825) and made its …
Livestock Report – Cattle Weakness
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 …