This Fib layout consists of the most important agricultural commodities. Beef, Pork, Soybean, Corn, Wheat, Rice, and Orange Juice Futures. -Orange Juice is sold as a frozen concentrate which makes it a commodity. Each Schematic is worked through by Large Institutions on behalf of the Fed. Market Manipulation through inflation and destroying meat processing...
This Fib layout consists of the most important agricultural commodities. Beef, Pork, Soybean, Corn, Wheat, Rice, and Orange Juice Futures. -Orange Juice is sold as a frozen concentrate which makes it a commodity. Each Schematic is worked through by Large Institutions on behalf of the Fed. Market Manipulation through inflation and destroying meat processing...
Lean Hogs The quarterly Hogs and Pigs report will be out after the close. Estimates are: All hogs and pigs - 99.0% Breeding herd - 98.9% Market hogs - 99.0% Technicals (August): Lean hog futures broke lower yesterday, trading into 4-star support from 103.00-103.95. This pocket represents trendline support and the 200day moving average. A failure here could take...
Lean Hogs Technicals (August): August lean hogs have been trapped between the 200-day moving average and 50 day moving average for a while now, but as those converge it could setup for a bigger directional move (instead of the choppy sideways trade that we’ve been stuck in for a month). First resistance comes in from 108.65-109.45. This pocket represents trendline...
Lean Hogs Technicals (July): July lean hogs were able to breakout above trendline resistance and the 50-day moving average which led way to an extension to our next resistance level mentioned in yesterday’s report, we’ve defined that wide ranging pocket as 112.825-114.00. Previous resistance will now act as support, that comes in near 110.50-111.475. Resistance:...
Commitments of Traders Update: Friday’s CoT report showed Managed Money were net sellers of 3,641 futures/options contracts through June 14th. This shrinks their net long position to 18,832 futures/options. Broken down that is 44,483 longs VS 25,651 shorts. Technicals (July): July lean hogs gaped higher on Friday but couldn’t get much else going after fizzling...
Lean Hogs Technicals (July): July lean hogs were able to find follow-through momentum yesterday, inching closer to the pile of technical resistance. Trendline resistance from the March 31st highs and the 50-day moving average come in at 110.675, which comes right in line with the June 8th high. This will be a big hurdle for the Bulls to overcome. If they can,...
Lean Hogs Technicals (July): July lean hogs were all over the place today as the market attempts to find its footing. The close out above resistance from 106.75-107.75 is encouraging and could encourage additional buying to 110.775-11.625. This pocket represents the 50 day moving average and trendline resistance from March 31st high. The Bulls have their work...
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...
Lean Hogs Technicals (July): Our "MUST HOLD" support pocket held again yesterday which was a silver lining, but I'm sure the Bulls would rather stop testing it. That pocket remains intact from 103.35-103.70. A failure here could take us back to fill the tiny gap left from May 16th, and potentially lower. On the resistance side of things, there are multiple...
Lean Hogs Commitments of Traders Update: Friday’s CoT report showed Managed Money were net buyers of 4,335 futures/options contracts, through June 7th. This expands their net long position to 21,630. Broken down, that is 46,526 longs VS 24,896 shorts. Technicals (July): July lean hogs were able to stabilize on Friday after defending MUST HOLD support on...
Trump has said many times before, he did not want a "partial" trade deal. There seems to be real volume and buying, sending the whole market to highs. There is a possibility that this "partial deal" is just a delay of tariffs (october 15th, and December?) and buying of agricultural products (soybeam, pork). Which we have seen before, unfortunately, to mean...