CME: Lean Hog ( CME:HE1! ), Live Cattle ( CME:LE1! )
Here is the official narrative on US inflation: The Federal Reserve’s monetary tightening policy has successfully brought down inflation rate from a four-decade high to about 3 percent, delivering much needed reliefs to US consumers.
Government data supports this narrative. Take food costs as an example: In...
Lean Hogs
Technicals (June-M)
June lean hog futures shipped back higher midmorning but retreated back near unchanged by the close. Trendline support continues to hold which bodes well for some relief to the upside from these levels. A break and close below yesterday's low of 102.175 would neutralize that bias. A close above 104.20 could trigger a move back to...
Volatile Hogs market trying to decide between short term top and reversal. We will go for the less risk set up which in our opinion will be to buy April Hogs 84.20 limit, stop 82.90, tgt at 87.90
Active COT Signal and downtrend on weekly:
The 1d bearish market structure is still in place.
On the 4h timeframe a small correction is confirmed and upper range of 1d market structure. If next 4h candle close below last low then lower high is confirmed and 4h down trend is in line with weekly and daily time Frame
RR: 1:2
Make your own decisions!
So leanhogs price just got out of the range.
Now there is 2 option:
!. First> retest the zone and go upside
2. Classic Wyckoff distribution with an uptrust. Potential short.
Lets wait for confirmation!
CME: Lean Hog ( CME:HE1! )
Throughout 2023, U.S. grocery shoppers find that beef prices rise rapidly. According to the National Daily Cattle and Beef report, published by the U.S. Department of Agriculture (USDA), Choice Beef averaged $290 per cwt (100 pounds) on December 8th. This represents a 16% increase year-over-year and is 21% above the 5-year average.
In...
Markets have been volatile lately across the board, Ags seem to be getting punished and technicals are indicating a move lower still, taking a short position at market with protective Stop Loss at 84.40. Full moon lately in the Midwest as we move into October/November season, Lunar belief traders are on the lookout, Happy Friday!
CME: Pork Cutout ( CME:PRK1! ), CBOT: Corn ( CBOT:ZC1! ), Soybean Meal ( CBOT:ZM1! )
Diversification is a fundamental concept in investing. In order to minimize the chances that market volatility wipes out your entire net worth, it is important to put your money in several investments with different levels of risk and potential return. This is summarized nicely in...
Hogs - Weekly Continuous: The gray vertical bars represent the expiration month of labeled contract and have prices of each contract as of today labeled. The deferred contracts can use the uptrend/downtrend lines to determine areas to be hedged. The June 21' high has provided a pivot for a down trend line that has acted as a strong area of resistance. Currently...
Continuous Hogs- Weekly: Currently plotting against the December contract. Uptrend lines off swing lows, and downtrend lines off swing highs. Creates areas to watch for action and reaction points.
Hogs Summary
Daily Direct Hogs Plant Delivered (as of 1:30 PM CT)
Carcass Base Price
Range: 96.00-112.00
Weighted Average: 104.81
Change from Prior Day: -2.02
Head Count:8,165
CME Lean Hog Index
8/29/22: 109.36
8/26/22: 111.26
Daily Hog Slaughter
475,000. Down 5,000 from last week but unchanged from the same day last year.
Technical Snapshot
Lean Hogs
October...
Hogs Summary
Daily Direct Hogs Plant Delivered (as of 1:30 PM CT)
Carcass Base Price
Range: 100.00-120.00
Weighted Average: 106.83
Change from Prior Day: -2.52
Head Count: 7,286
Daily Hog Slaughter
4800,000. Unchanged from last week and 3,000 less than the same week last year.
Technical Snapshot
Lean Hogs
Lean hogs have had a solid performance over the last two...
