Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The July Lean Hogs contract broke down hard below the 83.325 support level nearly going limit down in the process. It made a new low for the down move and approached the 80.45 to 79 .80 support area making the low at 80.60. It settled at 81.35. This is a critical support area with the rising 100 DMA now …

High Intensity

Steve Bruce General Commentary Leave a Comment

                                It’s a different year in the grains! Typically, we’re looking at the threat of dry weather and problems with corn pollination and benefits to wheat harvesting.  As we approach first notice day against the July futures and the planting and stocks report on June 28 there is fear and concern that things may get very tight in the East …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The July Lean Hogs contract took a break today, consolidating within the Tuesday range. The range is the smallest in the past four days and a spinning top candlestick was formed indicating indecision and the potential for a breakout move. The 83.325 support level held again with the low coming in at 83.425.  If it fails look for price …

The Next Two Weeks

Steve Bruce General Commentary Leave a Comment

                                There are only 11 trading sessions left after today until we get to the June 28 acreage and stocks reports as well as first notice day against the July futures. It’s also the end of the month and quarter!  There might be increased activity as we approach the date. The USDA has exhibited that they don’t need no stinkin’ …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The July Lean Hogs contract continues to spin its wheels in mud on Tuesday as another complete reversal in price action took place. The mud splattered all over Mondays rally as it covered up all the gains made from surge. The latest breakdown inched price past yesterday’s low (83.30) to a new low for the down move at 83.20. …

Grain Spreads: Corn Addressed, Soy Unknown

Sean Lusk General Commentary Leave a Comment

Two big reports to start the week and aside from weather events will most likely set the tone in the grain market until the month end quarterly stocks report. This mornings WASDE report was much more aggressive in altering US corn production, that cut US corn acreage and slashed yield. Planted US corn acres were lowered three million acres which …

Next Stop June 28

Steve Bruce General Commentary Leave a Comment

                                The June figures are history and now it’s time to refocus on weather and prepare for the June 28 acreage revisions reflecting conditions as of June 1 and the stocks-in-all-positions as of June 1. It’s also first notice day on July futures as well as the end of the month and quarter! Lots of fun at month’s end!                                 …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The July Lean Hogs contract continues to make heads spin as a complete reversal of fortune took place on Monday. Friday’s limit down move was completely erased and then some as price took out the Friday high (85.90) and made the session high at 86.725 up 3.375 on the day. It settled at 86.20.President Trump pulling back on proposed tariffs …

Long Growing Season, We Hope!

Steve Bruce General Commentary Leave a Comment

                                Someone will be surprised with the USDA crop progress and condition numbers released at 3 this afternoon.  Some of us will shrug it off as a best guess estimate of a moving target and will take into account the very subjective criteria used and the people making these decisions. It’s an art and not a science! Regardless, we’ll be …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

 The July Lean Hogs contract sold off hard taking out the Monday low and settling limit down for the session. The settlement price was 83.35 which is right at the 83.325 support level. Continued weakness on Monday could see price make its way towards the 80.45 – 79.80 support zone. If price holds the 83.325 support level consolidation is likely …