Hog futures were $0.35 to $2.27 weaker in follow through losses after Friday’s limit drop. The back month contracts were firmer with a 22 cent gain for Feb ’24. USDA’s National Average Base Hog price...
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Front month fat cattle ended the session off their highs, but still 22 to 77 cents in the black. Feeder cattle ended the first trade day of the month with 80 to $1.30 gains. USDA had $183-$184 as the bulk...
Volatility is about all that has transpired the past two days of trading. I anticipate more volatility, simply due to the volatile nature of our current economic environment. Through the duration of...
The Monday cattle session is working $0.95 to $1.40 in the black, though $1 off the highs for midday. The feeder futures market is also $1.75 to $2.62 stronger so far. USDA had $183-$184 as the bulk of...
Lean hog futures are trading another $0.40 to $2.25 lower after the limit losses on Friday. USDA’s National Average Base Hog price was $1.98 weaker to $72.37. The CME Lean Hog Index for 9/28 was $85.58,...
Last week represented the end of the month and end of the 3rd quarter. During this time, US corn and wheat futures endured relentless price pressures that were driven by bearish fundamentals. Since July...
Cattle ended the last trade day of the week with another triple digit pullback. December’s $2.50 loss on Friday left the contract $3.42 lower for the week but still $3.12 higher for the month after new...
October and Dec hogs closed down by their $3.75 limit on Friday after the bearish Hogs & Pigs report, and will see $5.50 trading limits today. The other front months also closed triple digits lower in...
Being that 1401.00 is a 78.6% retracement it can also be the end of the rally for now and the longer term target is 61.8% of the 5/31/23 low and 7/24/23 high at 1247.00. All of this is based on it staying...
