Live Cattle The October Live Cattle contract made a new low for the down move on Thursday, August 24, 2017, trading down to 104.625, just below the August 18th low of 104.75. It wouldn’t remain down there for after a 3 hour consolidation period, the October contract staged a late session surge to test the 13 DMA (107.30) once again. …
Decision Time: October Live Cattle
October Live Cattle Tomorrow’s trading session should point us in the right director concerning the next move in the cattle market. We are currently trading right at a major support level and in today’s action we posted a diverging low on the support channel line. Structural evidence still suggest that we are close to the termination point of …
Livestock Report
Live Cattle The October Live Cattle contract reversed course on Wednesday, August 23, 2017, as the declining 13 DMA (107.625) provided resistance for the second day in a row. The session high (107.90) poked above the moving average and then Live Cattle broke down and traded down to test support at 106.00. It made its low at 105.775 and ended …
Daily Gold Report
Gold futures held steady today as equities weakened and the Dollar gave back all of the previous days gains. December gold gained $3.70 to close the session at 1294.7, while September silver gained 6.5 cents to close at 1704.5. There seems to be a small pause in the market ahead of the annual central bankers meeting held in Jackson Hole, Wyoming, …
Hey…Whoa Cowboy: October Live Cattle
October Live Cattle Yesterday I posted a recommendation to purchase upside calls in the cattle market. However, the October contract turned south and closed below the speed-line support level which puts the whole setup on hold. The divergence reading are still in place on multiple time frame charts and if we stumble to another new low they …
Ag Commentary
The oilshare made nice gains today. There is talk that Argentinian bio is going to be slapped with dumping. This could ad significant demand to soyoil. Also, this would add more meal to the supply side at a time when the world already has a more than ample supply of meal. The bean market is still dependant on the weather for …
Livestock Report
Live Cattle The October Live Cattle contract rallied on Tuesday, August 22, 2017, breaking out above Monday’s inside candle and trading to resistance at the 13 DMA (108.225). The high of the day was 108.325 and the market pulled back from here, ending the session at 107.65. Resistance remains at the 13 DMA and then 108.675. A rally above the …
Cattle Call: August Live Cattle
August Live Cattle I believe there are signs of a turn around in the cattle market. I am currently analyzing the nearest monthly contract and see today’s action pointing to a possible base being set for an impulsive (C) wave advance. Futures might be a bit of a risky play at this location so I’d be recommending the …
Daily Gold Report
Gold rose on Monday as tensions over North Korea fueled safe-haven demand, while doubts about U.S. President Donald Trump’s ability to enact pro-business policies pushed U.S. bond yields to near two-month lows and weakened the dollar. December gold futures closed at 1296.7 ,up $5.10 for the session while silver pushed slightly higher to close at 1709.5 up 1.5 cents for …
Ag Commentary
The soybeans and meal finished moderately lower today. The oil share gained. The USDA crop condition report showed a 1 % up tick in the good to excellent category today at 60%. Given the recent rains a further increase in conditions is possible to finish out the growing season as we exit august. There is still growing to be done …