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| The very important, this year, stocks in all positions will be released on January 12.
Generally, don't put money on it, in bull markets the reports tend to be bullish, except the stocks report is always a key report.
I notice S. Korea is going to cut import tariffs in January to control their domestic inflation. Additionally, China is going to double pig farmer subsidies, a stipend for each fertile sow & establishing funding to build standardized large scale production facilities.
Those of you in the markets in 1973 should recall the Nixon price controls. Meats went to the upside peg...pork bellies in particular & some hog contracts, were 'futures exchanged' to the shorts in lieu of cash in an envelope or certified check--private transactions. Several countries now have 'quasi price controls' and seldom solves the problem.
In 1973, the action in the pork markets got the beef people 'bulled up' and when lifted, set off the biggest cash cattle price one-day drop in Sioux City history & triggered the herd liquidation which lasted thru 1976. Also expanded the fast food business...due to the cheap processed meat supply.
A very important consideration for this past week and until the end of the month, the folks, the big swingers and corporate decision makers, those folks who can move the markets either through their trading or because others watch and listen to them, have all left for the 'Islands.' They obviously remain in touch, but doubt many will take on new positions.
I sense the market is a little nervous about seeing a lot of cash grain dumped on it at the beginning of the new year.
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Random Thoughts
