Lean Hogs and the Cattle markets responded positively to the announcement of a trade agreement with Mexico. Lean Hogs traded up limit in the first two contacts and the October Live Cattle briefly going limit up were the highlights for the day. Feeder Cattle traded strong across the board but didn’t come near it up limit levels. Lean Hogs will …
Livestock Report – Cattle
With a bearish outlook for the Cattle on Feed report and cash trade all but complete nervous traders pounded the futures markets on Friday, August 24, 2018. Pressing the markets all session, sellers took price down towards support at 106.025, making the low just above it at 106.475 for Live Cattle. Feeders traded below trendline support (146.825) and made its …
Livestock Report – Cattle Weakness
Cattle futures broke down hard as Cattle on Feed estimates shook the market with the realization that the “on feed” numbers are expected to remain elevated for the near future. This continues to keep the pricing power in the packers’ hands as cash cattle traded at 173.00 on a dressed basis and 109.00-109.50 for live cattle. It wasn’t a large …
Livestock Report – Feeder Cattle
Cattle futures have been consolidating with a downward lean as the supply vs demand battle has (so far) been fought to a draw, in my opinion. With ample supplies of cattle and excellent demand for beef, cash prices have also remained in a trading range. The cattle on Feed report comes out on Friday after the close of trading. Pre-report …
Livestock Report
Live Cattle On Monday negotiated cash trade was mostly inactive in all major feeding regions. Monday afternoon beef cutout values were higher to sharply higher on moderate to good demand and moderate offerings. Choice was up 2.60 at 213.98 with Select up 1.37 to close at 202.29 on 101 loads. The choice/ select spread widened to 11.69. The hide and …
Livestock Report
Live Cattle Packers continue to be able to squeeze producers as box prices are rising and they are still able to pressure cash prices lower, giving themselves a nice profit. With cattle perceived to be at ample levels, packer leverage is high. Even though demand has been high, they are able sell traders on the idea that demand could disappear …
Livestock Report
Live Cattle On Tuesday August 14, 2018 the October Live Cattle contract traded back into the 112.25 – 108.175 trading range, climbing up to the Monday high (108.85) and settling nearby at 108.725. It stayed above the 107.35 support level again, making the low at 107.90. It also formed a bullish engulfing candle. A break down from settlement could lead …
Livestock Report
Live Cattle On Monday August 13, 2018 the October Live Cattle contract broke down below the 112.25 – 108.175 trading range, trading to a low of 107.65 and settling at 108.15. It settled below the key level at 108.65 and the 108.175 low. It couldn’t get below the 107.35 support level on the break down however, so support is containing …
Livestock Report
Live Cattle On Wednesday August 8, 2018 the October Live Cattle contract continued to consolidate, trading down to 110.05 and then rallying all the way up past the 110.80 resistance level to the high at 111.10. Wow! It settled at 111.00. If settlement holds, price could test the 112.35 resistance level. Resistance then comes in at 113.90. A failure from …
Olive Line Hits
All my opinions as usual below. So we are in week 4 off my Olive line buy levels in grains and deferred livestock contracts that to me tested souls but now are up and running higher. Most of the bullish factors are still in place in my view. Bad US Hard wheat crop and potential global supply demand decrease. A …