Livestock Report

Ben DiCostanzoGeneral Commentary, Livestock

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

John WalshGeneral Commentary, Livestock

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

John WalshGeneral Commentary, Livestock

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

Ben DiCostanzoGeneral Commentary, Livestock

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

Ben DiCostanzoGeneral Commentary, Livestock

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 …

Livestock Report

Ben DiCostanzoGeneral Commentary, Livestock

February Live Cattle reversed course yet again, trading up from yesterday’s lows and moving higher all session long. It inched out a new high at 121.75, trading above the November 30 high of 121.625. It ended the session near the high and sets up a possible break out scenario for Wednesday. If Cattle opens higher on strong volume look to …

Livestock Report

Ben DiCostanzoGeneral Commentary, Livestock

February Live Cattle remains in its trading range as a stronger cash market once again fails to lead futures higher. Cash cattle traded as high as 118.50 on a live basis on Friday, with dressed cattle at 185.00. Futures opened near the session high and traded lower towards support at 119.15. The range was 121.425 – 119.825. The market continues …

Livestock Report – Lean Hogs

Ben DiCostanzoGeneral Commentary, Livestock

February Lean Hogs pulled back towards support at 63.325 early in the week as Chinese jawboning about nothing to see here caused traders to lighten long positions. Traders hadn’t seen the Chinese increasing imports and were worried that maybe they did have control over the African swine fever as they claimed. Show me the imports! Well guess what …. Thursday’s …