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 …
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 …