The information and opinions expressed below are based on my analysis of price behavior and chart activity December Live Cattle The December Live Cattle contract finished the day up 0.62 at 185.40, roughly in the middle of the range today. They started off firmer in reaction to the election results, jumping to 186.60 and setting new highs for the week …
State of Confusion in Cattle
The cash market has been breaking down the past month as packers have regained control of the price action, in my opinion. The Equity markets have been under pressure as traders worry about economic conditions. Cattle and Feeder cattle are still relatively close to their all-time highs as the rest of the commodity markets for the most part is well …
Feeder Cattle Call to Action
Packers have been able to knock down cattle prices up North bringing them closer to the south. Last week Live prices ranged from 185.00 to 194.00. We’ve seen the Feeder Index fall as futures prices collapsed as cattle buyers pulled back and were able to get cheaper prices. No sales have climbed as sellers balk at low prices. Sellers have …
Livestock Update
Commentary: The Live board closed down. The nearby limit again. As indicated Thursday the market is not signaling a low yet. The fundamentals continue to point to potentially further losses. The issue is two fold. First the packer appears to be slowing the slaughter rate. This would cause a backup and continue to pressure prices. Second, the pork market is …
Livestock Update
Commentary: CATTLE The Live market under considerable pressure again today. The cutout values declining considerablly in the last 10 days. There are concerns that are real that the slaughter will continue to slow. The numbers for the week prove this is grounded in reality. The shutting of the JBS plant is of concern as well and falls in line with …
Livestock Report
Commentary: The Livestock markets were hit with another knockdown blow on Wednesday, going limit down in each market with Live Cattle down the expanded limit. The markets continue to be pushed around by outside markets and that despicable microscopic enemy known as Covid-19. Grain markets, Equity markets, Energy markets all were weak as headlines continue to erupt with negative news …
Livestock Update
Commentary: LIVE CATTLE The cattle opened lower today. The close was locked limit. Look for follow through. The expanded limits after yesterdays close did not help. The talk of discount to cash means little to the market. It should be remembered that it has rarely of late. The weights remain high during a difficult time. The consumer is spent after restocking. …
Livestock Update
Commentary: LIVE The meat market has a lot to consider at present, as all markets do. The Covid has taken its toll on demand and is a consideration. The cattle weights remain high and this is an issue. The March demand story that had consumers buying to stock the freezer to get through a couple weeks has turned into a …
Livestock Report
The April Lean Hogs contract continued its attack on the 200 DMA on the continuous chart. It also continued to fail against it. The 200 DMA is declining and is at 74.51. April Hogs traded from 74.90 high to 73.275 low and it settled at 74.525. It did settle above the key level at 74.25. Hogs are trying to anticipate …
Livestock Report
In a light trading session February Live Cattle continued its break out to the upside, trading to a new high at 122.55 just below resistance at 122.825. Continued upward pressure could see price test resistance at 124.30. A pullback from the high could see price fall back into the 121.625 – 118.575 trading range. January Feeder Cattle continued its recovery …