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 …
Livestock Report – Feeder Cattle
Feeder Cattle broke out of its trading range and traded above the July 19th high (154.925), making a new high for the up move. The new high is at 155.225 and is just below resistance at 155.275. Aggressive feedlot buying has taken the Feeder Cattle index up to 152.63 as of the11th of September. This is creating optimism for further …
Livestock Report
The cattle markets were quiet on Monday September 10, 2018. They tested resistance at 110.80 in the October Live Cattle, making the high at 110.775. The October Feeder Cattle contract traded up to 153.30, just shy of resistance at 153.50. Cash cattle traded higher on Friday reaching 108.00 for live cattle in the Southern Plains and Colorado, while in Nebraska …
Olive Line – Currency, Meats, Grains
ARP HERE, There continues to be chaos around the globe due to uncertainty regarding the currency relationships. There has been much movement in the currency pairs over the last 6 months. CURRENCY The dollar 95.55 nl(neckline) rejected. This could be a possible top in my opinion. MEATS It is one of my thoughts. Don’t be afraid to fade public opinion. …