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. …
Livestock Report
There isn’t much to say about the Live and Feeder Cattle markets today as they traded in a narrow range with the Feeders trading within Wednesday’s narrow range. There was a limited amount of trading in the cash market, with dressed cattle moving at $170.00 in the Iowa/ Minnesota area. It was quiet in the other 4 major areas. Packers …
Livestock Report
Monday’s strong breakout testing resistance at 110.80 couldn’t continue as Live Cattle consolidated within the Monday range on Tuesday, September 5,, 2018. With packers showing steady bids in the cash market futures prices couldn’t make any headway as support was tested at the 108.65 level keeping price within the 110.80 – 108.65 trading zone. It will take a breakout outside …
Olive Line Signals – Stocks, Meats, Grains
ARP here, good day to all. There are many exiting things going on as I see it. I am jumping into the markets right away. STOCKS I put out an Olive Line Sell in the Dow on Aug 30th. The price 26170. I’m bearish as my extreme Olive Line sell printed. The August High could be in. The pit bear …
Livestock Report
Lean Hogs rallied today as news of two new cases of African swine fever is found in China. This is the sixth and seventh reported cases of the disease and more are sure to follow. There isn’t a cure for the disease and culling the infected is all they can do. Analysts guess that at least 38,000 have been culled …
Livestock Report
Cash Cattle markets were on hold Friday 8/31/2018, as packers refused to budge (as of the I write this article) from their bids ($107 Live) and producers remain fixed on their offers($111.00 – $112.00) in the South where very few cattle have traded. A small amount of cattle have traded at $170.00 on a dressed basis in the North. October …
Livestock Report
Cattle markets were on hold Wednesday 8/29/2018, consolidating within the Tuesday ranges. October Lean Hogs made an attempt to retrace some its losses but failed and settled below the 51.80 support level. The cash trade in cattle has been quiet all week, boxed prices remain firm and slaughter levels are steady as packers are in control of the market with …
Livestock Report
The excitement over the US – Mexico trade agreement withered away rather quickly as October Lean Hogs gap opened higher and then collapsed, trading below the Monday low and the Cattle markets ate into their bullish candles, erasing most of the gains before a late day rally left cattle on firmer footing. The naysayers came out in force on Tuesday, …