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 …
Livestock Report – Cattle
In my opinion, it seems funds like to use bearish cattle on feed reports to buy the dips and then take futures higher. It’s happened again as December live cattle has made a new high and November feeders has traded back to the upper end of its trading range. I believe this is the fifth report in a row that …
Livestock Report
Cattle and Hog markets did little on Tuesday September 25, 2018. Cattle shook off a bearish (in my opinion) cold storage report and Hogs took in stride processing plants coming back on line in North Carolina and a bearish (in my opinion) cold storage report to consolidate near support. If live cattle breaks below support at 116.35 a pullback to …
Olive Line Signals
ARP Learn to disregard news stories that can’t assist your trading. This morning it was reported by Bloomberg news that China is taking out ads in the Des Moines register to influence the farm lobby in Iowa. In Rural America. This is getting crazy in my opinion. Last week Rick Santelli of CNBC spoke about the Central Bank telling parliament …
Livestock Report – Cattle on Feed
United States Cattle on Feed Up 6 Percent Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.1 million head on September 1, 2018. The inventory was 6 percent above September 1, 2017. This is the highest September 1 inventory since the series began in …
Livestock Report – Lean Hogs
The October Lean Hogs contract gap opened higher and traded up limit before a slight pullback took price lower and it settled up 2.725 at 59.175. The December contract neared its limit price and settled up 2.60 at 57.975. The December contract is now the lead contract and will be the focus for traders going forward. The shutdown of processing …
Olive Line
ARP here MARKET THOUGHTS WITH THE OLIVE LINE The morning started off with friction. As reported by CNN syria accidently shot down a russian military plane. There were no survivors. Syria blames Israel. -First day of new tariffs and the S and P is higher. Yesterday the nasdaq was slipping under support. I continue to favor the short side of …
Livestock Report
Cattle markets soared on Friday, September14, 2018. The October contracts both traded up the limit, with the October Live Cattle contract settling up limit. Feeders dipped at the end of the session, settling at 158.875, a little more than a buck off the limit price. Feeders settled just above the 158.80 resistance level and Live Cattle just below the 113.90 …