- Let's give Thanks, confidence in System? Change,
FRB Yellens' natives getting restless? Yield curve
- Market rankings for the option trader
Reduce some risk in the Nasdaq today. Roll up ITM calls.
- Grains continue to rally
Grains have made a nice move higher this week as we head into option expiration.
- December Option Expiration Could be a Market Mover
We want to wish everyone a Happy and Safe Thanksgiving! Grain markets are in a buying time mode with the holiday approaching and option expiration...
- Livestock Report
- Livestock Roundup 11.21.17
Cattle markets saw a rally on Tuesday but follow through may be tough with the holiday week.
Brugler reportGet the Newsletter
Live cattle futures are showing gains of 30 cents to $1.775 on Wednesday. Feeder cattle futures are also $1 to $1.425 in the green at midday. The CME feeder cattle index on November 20 was down 20 cents to $156.71. Wholesale beef prices were slightly higher on Wednesday morning. Choice was up 29 cents at $208.92, with select boxes 26 cents higher at $188.91. USDA indicated FI cattle slaughter at 240,000 head through Tuesday, 5,000 larger than a week ago and 8,000 above the same week in 2016. This morning’s FCE auction showed 2 offers of $119 passed on by feedlots, as asks of $120 were passed by packers. There were no sales reported of the 955 head. Tuesday cash sales showed $118 in the South and up to $120-120.50 in the North. This morning’s Cold Storage report indicated frozen beef stocks of 506.931 million pounds, 2.2% larger than September but down 4.9% from last year.Dec 17 Cattle are at $119.600, up $1.625,Feb 18 Cattle are at $125.825, up $1.775,Apr 18 Cattle are at $126.250, up $1.450,Jan 18 Feeder Cattle are at $152.975, up $1.350Mar 18 Feeder Cattle are at $151.250, up $1.425Apr 18 Feeder Cattle are at $150.950, up $1.275
Lean hog futures are steady to 60 cents higher in most contracts on the day. The CME Lean Hog Index for 11/20 was down 42 cents to $64.41. The national base hog average price was a nickel higher at $56.64 this morning. The USDA pork carcass cutout value was $1.16 higher at $82.03 in the Wednesday morning report. The weekly USDA AMS hog slaughter report showed 924,000 through Tuesday. That is down 5,000 from the previous week but 33,000 more than the same week in 2016. The USDA Cold Storage report this morning showed frozen pork stocks at the end of October totaled 597.295 million pounds. That is a drop of 3.45% from September and 0.29% lower that October 2016. The domestic and export markets continue to absorb larger 2017 production.Dec 17 Hogs are at $61.300, up $0.600,Feb 18 Hogs are at $67.225, up $0.275Apr 18 Hogs are at $71.625, up $0.250