October Live Cattle The October live cattle market turned south today and managed to hold up right at the previously defined breaking point of 106. This level represents the angled speed support line which has been holding this market together. In order to stave off further losses the market will have to rebound from here. A hold …
Ag Commentary
The dollar today continues its path lower. This should be watched. The dollar weakness can have impact on the grain trade and we are a bit off the highs and a bit weaker than I thought possible. The soy complex for me is a bit difficult in here. I remain macro bearish based on the long term fundamentals . The …
Daily Gold Report
Dovish central bank Presidents that have echoed dovish commentary on short term interest rates along with continued geopolitical chaos in Washington have sent the Dollar spiraling lower while ushering in new longs in the precious metals sector. On top of that the devastation that continues in south Texas due to hurricane Harvey that continues to wreak havoc along the gulf …
Livestock Report
Live Cattle The October Live Cattle contract rallied to trendline resistance on Monday, August 28, 2017, trading up to 109.75, just below the trendline at 109.775. It couldn’t sustain the rally and pulled back below the 21 DMA (109.05) and the 108.675 support level, ending the day at 108.55. It formed a shooting star candle for the second day in …
More Cow Bell? October Live Cattle
October Live Cattle It appears that the cattle market has established an impulsive structured advance (5 wave) stemming from the lows seen last week. What this means in wave theory is that it is an early indication of a lead subset wave (i) which should give way to further advancements. The pullback in today’s session from the early …
Tuesday Afternoon Weather Report for Tuesday 29 August 2017
MODELS RAINS SHIFT NORTH IN 1-5 DAY … 6-10 DAY VERY UNCERTAIN 1-5 DAY = The afternoon radar shows the remains of Harvey still bringing moderate to heavy rains to Houston metro area and all of southeastern Texas with additional bands of rain over eastern and southeastern Louisiana and southern Mississippi. But this system is breaking down steadily. The …
Weekly Gold Report
Gold and Silver finished the week mixed with December gold gaining $6.30 for the week to close at 1297.9. Front month September silver gave back just 4 cents to close at 1704.5. Weekly highs and lows were both scored during Friday’s session as traders awaited Janet Yellen’s speech Friday morning. Without getting into specifics the speech was seen as dovish …
Ag Commentary
A fairly quiet day as the markets await the weekend to see weather next week. Also, the pro farmer tour will end with a idea for field related yields. The general thought related to the soy is that pod counts are down from a year ago. How that relates to a final yield remains to be seen. It must be …
Livestock Report
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 …