Lean Hogs Technicals (July): July lean hogs attempted to get out above technical resistance from 106.75-107.75 but failed to sustain the early momentum into the afternoon session. If the Bulls can chew through and close above this pocket, we would look for an extension towards the mountain of resistance from about 111.00-112.70. This pocket includes trendline...
Tuesday’s Slaughter is estimated at 122,000. 4,000 less than last week, but unchanged from the same week last year. Tuesday’s Cutout Values Choice: 269.44, Down 1.10 from the previous day. Select: 246.82, Down .63 from the previous day. Choice/Select Spread: 22.62 5 Area Average Cattle Price Live Steer: 141.72 Live Heifer: 143.00 Dressed Steer: 225.58 Dressed...
Monday’s Slaughter is estimated at 125,000. Unchanged from last week, but 8,000 more than the same week last year. Monday’s Cutout Values Choice: 270.54, Down .78 from the previous day. Select: 247.45, Down 1.44 from the previous day. Choice/Select Spread: 23.09 5 Area Average Cattle Price Live Steer: 140.14 Live Heifer: 138.35 Dressed Steer: 226.03 Dressed...
Feeder Cattle Commitments of Traders Update: Friday’s CoT report showed Managed Money were net buyers of 3,798 futures/options contracts, through June 7th. This shrinks their net short position to 5,472. Broken down, that is 10,900 longs VS 16,372 shorts. Technicals (August): August feeder cattle retreated on Friday after failing against technical resistance,...
Friday’s Slaughter is estimated at 124,000. 2,000 less than last week, but 5,000 more than the same week last year. Friday’s Cutout Values Choice: 271.32, Up .22 from the previous day. Select: 248.89, Down .72from the previous day. Choice/Select Spread: 22.43 5 Area Average Cattle Price Live Steer: 140.52 Live Heifer: 139.41 Dressed Steer: 226.02 Dressed...
Continuous Cattle: The gray vertical bars represent the expiration month of labeled contract and have prices of each contract as of today labeled. The 2019 low has provided a pivot for a parallel uptrend line (highlighted in yellow) that has acted as a strong magnet since moving up off the covid crash low. Any of the lines could act as support/resistance. ...
Cattle, Corn, and S&P 500: The fundamentals may be different now compared to in 2008, but I think these 3 markets are well intertwined. The effect of a major drawdown in the equities could impact all markets for a time. It sure seems that Cattle have some strong fundamentals to make a run up as it did from 2010 to 2014, but the timing of when that potential...
Short Signal Entry LMT - 135.350 TP#1 - 131.600 SL - 138.600 **Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not indicative of future results**
I think this thing wants out. Looks like a bull, smells like a bull.
Consider what effect your lifestyle has on the planet. If you are reading this you are probably in the top percent of people contributing to climate change, therefore, you also have the most potential to help. You could say these numbers are slightly skewed because of all the children in africa and india that are, lets just say, not contributing much to global...
eat less meat. the world will continue to host human life for longer as a direct result. I'm operating on the assumption that prolonged human presence is a good thing. This is what optimism must feel like. I can hardly contain my joy.
cattle are moseying upward. looking for continuation out of a bull flag with trendline support. I like the patterns I see here so I will plan to make an overly-complicated Elliot wave translation of what I'm seeing sometime within the next 10 hours. Regarding seasonality, I can't remember any good details on seasonality, but I can remember reading two pages on...
Boy I must admit, I sure do miss dealing with these spread markets. Far less time effort and less stressful then intraday trading outrights, that is for sure. Shout out to @NorthStarDayTrading for the awesome Auto Support Resistance Indicator. I love it!
Live cattle is playing by the rules. Still waiting for the resistance break.
An interesting spread here. I’ve traded this one on and off over the years. It’s a long-term hold and some years this spread just has a nice smooth trend. Think of this spread as a cost of carry, in a way. Or perhaps: wholesale versus retail is a better way to look at it. Feeder Cattle (young moo cows) + Corn (food) + time equals Live Cattle (grown up...
With seasonality behind our back as well, I see the December Live Cattle Lean Hog Contracts on a potential turn here this coming week. Keep an eye on the key levels and trendlines to see if the market turns at that level and continues in its short downtrend.
LE1! Potential long trade here on cattle, rejection off the 0.786 fib extension, though there is some trendline support potentially, so this can be longed on the trend, or if trend is broken, short. Be fluid, be water when trading. Limit bias and trade what you see.
With the high demand from China and some plants closing down due to COVID, the cattle prices in Brazil have just gone up since April. Today was the first real candle but it stopped at he 21 exp mov average. The country has started to reopen the plants, COVId infection likely reached its plateau and we can expect the imbalance of demand supply to go to normality....