Livestock Report

Ben DiCostanzo General Commentary, Livestock Leave a Comment

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 DiCostanzo General Commentary, Livestock Leave a Comment

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 DiCostanzo General Commentary, Livestock Leave a Comment

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 DiCostanzo General Commentary, Livestock Leave a Comment

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 …

Livestock Report

Ben DiCostanzo General Commentary, Livestock Leave a Comment

Cattle markets remain stagnant with February Live Cattle continuing to trade within the November 21st trading range (121.475 – 119.80) and January Feeder Cattle pulling back to the 200 DMA (147.70). It is also within its November 21st trading range (150.00 – 147.05). Cash markets remain quiet with limited trade at 116.00 for live cattle and at 183.00 for dressed …

Livestock Report

Ben DiCostanzo General Commentary, Livestock Leave a Comment

The start of the new week saw the cattle markets trade within their Wednesday trading ranges. January Feeder Cattle is consolidating between the Wednesday high at 150.00 and support at 148.425. Aggressive traders could buy a breakout above 150.00, expecting the market to test resistance at 151.55 and then 152.30. Place stops in accordance to your account size and risk …

Livestock Report

Ben DiCostanzo General Commentary, Livestock Leave a Comment

The February Lean Hogs contract is now the lead contract as its volume has overtaken the December Hogs. It made a new high early in the trading session reaching 69.50 before breaking down hard and making the session low at 66.875. The market had been rallying on speculation the Chinese will eventually have to purchase US Hogs because of the …

Livestock Report

Ben DiCostanzo General Commentary, Livestock Leave a Comment

January Feeder Cattle tested support at 146.20 early in the trading session, making the session low just above it at 146.275. It made its way higher the remainder of the day, repeatedly bucking horns with the 200 DMA at 147.725 and dipping lower before making the high at 148.075 at the end of the session. It settled just above the …

Livestock Report

Ben DiCostanzo General Commentary, Livestock Leave a Comment

Cattle markets made an early attempt at a rally today before stalling and falling to the lower end of the day’s trading ranges. January Feeder Cattle tested the 200 DMA at 147.725, making the high at 148.00 and then trading to the low of the day at 146.125. It settled unchanged at 146.975. The low tested the key level at …

Lean Hogs

Ben DiCostanzo General Commentary, Livestock Leave a Comment

Lean Hogs rallied today as African swine fever fears spread through the market. A major Chinese feed company Tangrenshen Group said one of its subsidiaries’ feed tested positive for the disease. This increases concern that China has been unable to control the disease and its spread throughout the country. There have been over 50 cases of the disease found in …