Tuesday’s Slaughter is estimated at 126,000, Unchanged from last week and 5,000 more than the same week last year.
Tuesday’s Cutout Values
Choice: 271.42, Up 1.84 from the previous day.
Select: 249.56 Down 1.53 from the previous day.
Choice/Select Spread: 21.86
5 Area Average Cattle Price
Live Steer: 141.00
Live Heifer: N/A
Dressed Steer: 222.00
Dressed...
Monday’s Cutout Values
Choice: 269.58, Up 2.32 from the previous day.
Select: 251.09 Up 1.07 from the previous day.
Choice/Select Spread: 18.49
5 Area Average Cattle Price
Live Steer: 138.07
Live Heifer: 136.83
Dressed Steer: 221.89
Dressed Heifer: 222.35
Live Cattle
Technicals (August): August live cattle took out last week’s highs then promptly reversed...
Long-term chart, price has started a decline that has a potential for -50% from the local high.
Corrective pattern in the middle is a flat correction with s complex wave b.
Hope this is helpful. Meanwhile, looking at wheat futures, will update next
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...
Where can we feel the impact of high inflation most directly in our daily lives? Food and energy! Livestock is a market that certainly deserves more of our attention. Surging energy prices (especially natural gas) have led to high fertilizer prices, which pushed up grain prices. Eventually, that gets translated into higher prices for livestock which are heavily...
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**
Locally momentum is shifting and forming an inverse Head + Shoulders here could see the price drop but overall i had the price going to $163 at the PCZ of the harmonic
Mayor Pattern: Weekly Broadening with False/Premature Breakout
Daily Pattern: continuation Flag, if confirmed first target could be the lower band of Broadening
in the chart for long time period at first step, simple cypher pattern exists. tow next price is explainable by shark pattern. the second price target is 160 $ and the third one is 181$. as you see in the chart price reacted to first price target perfectly. but with considering trading volume I can say it's just a retrace and second target is reachable.
Weekly Cont. Cattle: So far the Parallel uptrend line based off the 2019 low has proved to be a strong action/reaction line. The longer price holds to this line the stronger the bull run is. The Red uptrend line off 2020’s low must hold to continue a stable (potential bull) market for live cattle. Any of the lines on the chart could act as support/resistance...
Weekly Cont. Cattle: So far the Parallel uptrend line based off the 2019 low has proved to be a strong action/reaction line. The longer price holds to this line the stronger the bull run is. The Red uptrend line off 2020’s low must hold to continue a stable (potential bull) market for live cattle.
Any of the lines on the chart could act as support/resistance (or...
Resistance is broken, took the position. Will average up if will see that the trade is working. Shortage of food is coming to the store near you and most have no clue that it is coming. If you think that it is not possible, think again. Plywood at $100 was a fantasy not long ago. Get ready to pay $50 per pound for meat.
I have been doing some fasting recently. I haven't been doing it that much this year compared to usual, and it's a pretty misery inducing process, but I always feel pretty good when it's done. I just finished a 24 hour fast before posting this, and now I have the energy to mark up a chart and ask people to consume less. I have gone as long as 5 days back in the...
