The December Lean Hogs staged a strong rally on Monday, October 15, 2018, trading up to 57.60 before retracing and settling at 56.75. It back in the middle of the 53.825 – 59.95 trading range. The pork cutout index (79.15) and the lean hog index (68.99) remain firm showing the cash market is holding up well and with the December …
Livestock Report
November Feeder cattle continues to trade in the lower part of its 159.90 – 155.525 trading range, with the Thursday October 11, 2018 range from 155.95 low to the 157.275 high. It settled at 156.75. A close below 155.525 could send price down towards 151.00. A rally past 157.30 could send price up towards the 159.90 high. A break out …
Pre-USDA, Buy Bearish Report?, LC FC OLS, KWZ SU, OJ
Good morning Strategic view CORN- Let’s see what the $3.60 bears can do. I like standing at my long term macro levels to buy. I made long term bottom call in corn on an org 3.43 support, and tiny OLB2 under 3.48ish. This was confirmed with a reversal down bar my sequence right into olive buy extreme. 5c sloppy. Buy …
Livestock Report – Feeder Cattle
Feeder cattle broke down to the lower part of its 159.90 – 155.525 trading on Wednesday October 10, 2018. It made its low at 155.725 and settled at 156.175. The aggressive purchasing of feeder cattle seems to have come to a halt. Muddy conditions in feedlots plus calf weaning and colder weather lead to illness risk creating a cautious buyer …
Livestock Report – Cattle
Cattle markets continue to trade in a range. Feeder Cattle is trading between 159.90 and 155.525. Live Cattle is trading between 119.75 and 116.625. The cash market on a live basis between 110.00 and 112.00 and dressed between 173.00 and 175.00. Boxed beef between 203.00 and 206.00. Supply and demand in a balanced (ho hum) state. What can alter the …
Managed Inflation Expectations, Bonds to Cattle
Good Pre Unenjoyment Thurs, Unemployment out Friday. I think we running a little hot. Watch wages. Bonds get tattooed on 4th olive buy attempt, 139.23, a low a couple times UNTIL ITS NOT. Long term macro opinion is wildly bullish inflation. I quoted 2.97% low tick for months but now long term interest rates are up over 13% to 3.37% …
Livestock Report – Lean Hogs
December Lean Hogs pulled back hard on Wednesday October 3, 2018, trading past support at 58.25 and the 21 DMA at 56.65 to the session low at 56.475. It settled at 57.15. It back in the middle of the 58.65 – 54.525 trading range. The euphoria over the USMC trade deal has waned and fears the trade war with China …
Livestock Report
It was a day of consolidation in the cattle and Hog markets as the lead contracts pulled back after the Monday gains. The December Lean Hogs traded within the Monday range forming an inside candle. It traded near support at 58.25, making its low at 58.50 and then recovering and closing at 59.15. Resistance is at 59.975. The December Live …
Livestock Report – Lean Hogs
The December Lean Hogs broke out above the 58.65 – 53.825 trading range on Monday October 1, 2018. It traded to a new high at 59.95, just below resistance at 59.975. It settled nearby at 59.85. Traders bid up the market as a wave of potential bullish news hit the market, in my opinion. There were more cases of African …
Livestock Report – Lean Hogs
The liquidation in front of the Quarterly Hogs and Pigs report was reversed as funds bought futures taking price nearly up limit on Friday September 28, 2018. The report didn’t contain any bearish surprises, instead showing numbers slightly lower than expectations prompting buying in the futures market. Traders took price past resistance at 58.25 making the session high at 58.45 …