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Buxton ND | COF and cold storage was a tad bearish.
Cash and cut -outs been steadyish.
Cattle have been making lower highs and lower lows for nearly 2 years, this means we're still locked in a bear market.
Mega high price have hurt your demand (think corn) Mega high price put massive wheels in motion of expanding production both here and world wide (think corn) you've been in the phase of buying that demand back (again corn)
Now think scuffy's (that was my old old brokers name for them) we just killed 2.466 million hogs this week that's nuts. Saturday kills will probably run all day. This is probably not gonna back off anytime soon. Pork is cheap and its gonna get cheaper to compete with beef in the coolers and a drag on beef. IDK but think chicken is cheap also and could care less about turkey's. Money flows in hogs look about as ugly as the charts.
I wanted to say LEZ should test should test $111/12 (this rally looks to have failed) in the next month as its been testing this level on the charts all year (refer to the scuffy's) Yes that does quite make sense,,,,,,,,,, you just gotta look at the charts to make it make sense.......... :o)
Money flows are alittle positive LE, just got a feeling that long spec money trying to ride the cattle bull in a $1000 suits are gonna get their nuts clipped on this one.
If Chip Flory is reading this, are you gonna call me or are you gonna blow off the American Producers :o( on the CFTC reporting issue ????? | |
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Cattle rocket?
