Live Cattle (February)
The market retreated on Friday as a risk off atmosphere evolved, following an increase in tensions between the US and Iran. This prompted some questions regarding to the possible spillover affect on the trade negotiations with China. Market participants had the weekend to digest the information and the market recovered those losses today, taking us right back to the December 27th highs. The resistance pocket we laid out last week remains intact from....For the full report, sign up for your FREE two-week trial!
Feeder Cattle (January)
Feeder cattle rallied hard today, posting the highest close since December 13th. Our 4-star support pocket held on a closing basis last week, we defined that as 142.85-143.125. The inability to breakdown below with conviction invited buyers into the market today, sparking a surge towards our 4-star resistance pocket....For the full report, sign up for your FREE two-week trial!
Lean Hogs (February)
February lean hogs crashed on Friday, closing limit down. Much of this was on fears that increased tensions with Iran could throw a wrench in negotiating trade with China. Perhaps there is a possibility that it could happen, but it is far from a probability. Soybeans also sold off but that’s more reasonable considering they rallied 75 cents in December. The limit down move Friday and follow through this morning seemed to be overkill in our minds and presents an opportunity to look back to the long side. The past two sessions did do some technical damage, the bulls need to achieve consecutive closes back above....For the full report, sign up for your FREE two-week trial!
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