December Live Cattle The cattle market failed to commit to a discernible direction in today’s price action. Coming off the lows seen on Wednesday cattle has appeared to developed a subset impulsive reaction by completing a minor five wave structured advance which peaked out at the speed-line resistance of 117.400. Following an early high prices pulled back in …
Coffee- Olive- HIT&FILLED,
Last weeks macro comment below, still applies. This was pre USDA bottom. Maybe. Coffee is game on 123.20. Hit&filled. Sugar over 14.20-ish possibly to upside if looking to buy sugar, 1376 sell stop. 13.80 and above were olb s. open order stop and forget it. only focus on risk stops. Wheat- buy break. Corn- its close, price wise. Beans- …
Livestock Report
Live Cattle The December Live Cattle contract broke down on the open (115.75) in front of the fedcattleexchange.com auction on Wednesday, October 18, 2017, trading to the low of the day at 114.525. It recovered from here and traded to the high of the day at 117.075. The auction had only 919 head for sale and had two accepted sales …
Ag Commentary
The soy complex awaits the future. the fundamentals from a historic perspective are very bearish. However, the carry at 430 harkins to the last few years where the carry fell based on the lack of global production. Is this where we are at today ? perhaps. But the Brazilian and Argentinian weather is improving drastically. This will go a ways to growing …
Daily Gold Report
Precious metals futures were ending the U.S. day session modestly lower but well up from their daily lows. After seeing selling pressure for most of this week, the selling finally subsided with gold closing at 1283.0 basis December futures while silver closed at 1699.5. For the week December gold has lost $21.60, while silver has lost 41.5 cents. With U.S. stock …
Wednesday AM US Grain Weather from WxRisk.com
WEDNESDAY AM RADAR – FAST EAST LOADING RADAR The Wednesday morning radar is completely clear of any sort of precipitation over any portion of the Plains …the Midwest …and the Delta regions. In fact the only significant precipitation is some moderate steady rain over the western third of Washington State. TUESDAY MAX TEMPS Temperatures were quite uniform across most areas in the …
Livestock Report
Live Cattle The December Live Cattle contract broke down on Tuesday, October 17, 2017 as analysts’ estimates for the upcoming Cattle on Feed report were revealed. Analysts are predicting another bearish report on Friday afternoon. Price tested the 8 DMA (117.425), reaching a high of 117.475 early on in the session, before breaking down mid-session and trading to the session …
Medium or Rare? : December Live Cattle
December Live Cattle How would you like your steak sir? That describes the current state of the December Live Cattle market as the key technical level of 116.325 was violated in today’s session. This piercing of the 1st wave high is what I have been leaning on to assess the future price path of the cattle futures. This …
Full US and South American Grain Weather Issues Report from WxRisk.com
For the complete US and South American Grain Weather Issues Report, CLICK HERE. For those interested in Grains, every Thursday, Sean Lusk, Director Walsh Commercial Hedging Services hosts a FREE Grain Outlook webinar. Sean will hold his next Grain Outlook webinar on Thursday, October 19th. REGISTER NOW. If you cannot attend live, a recording will be sent to your inbox …
Livestock Report
Live Cattle The December Live Cattle contract consolidated on Monday, October 16, 2017. It formed a doji candlestick while testing support at the 116.55 level, making the low at 116.525. It made the high at 117.525, just above the 8 DMA (117.40). It ended the session in between at 117.10. A breakdown below 116.55 could lead to a test of …