Archive | livestock

Live Cattle Futures chart for January 20, 2014

Option Queen Letter

What Bitcoin the ETF!!!!! We are hearing that the Winklevoss twins have filed with the SEC for the Winklevoss Bitcoin Trust. In case you have forgotten, the Winklevoss twins enjoyed fame regarding their legal tangle with Mark Zuckerberg regarding Facebook. Tulips anyone? N’uff said! Leading up to the financial crisis of Lehman Bros….cattle cost an […]

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Live Cattle Futures chart for January 17, 2014

Fat Cattle need to go on a Diet

Record high after record high with April live cattle trading near $140 yesterday before stalling. The red horizontal line drawn on the chart below serves as my line in the sand. It will take a settlement below $139 to confirm an interim top. Ultimately I see futures on this contract trading back to the trend […]

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Lean hogs (meat)

Let’s Talk Meat

Lean hogs put in an interim top right around Halloween and have fallen off since losing just better than 7% dragging February futures to the up-sloping trend line that has acted as support since May. Though futures are currently oversold I am operating under the influence that the path of least resistance remains down and […]

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Lean Hogs, The Other White Meat

Lean hog futures (August contract) are up 5.4% after putting in a bottom at 88.70 on May 17. We’re now trading at 3 ½ month highs… putting this market into overbought levels. As of this post it appears buyers are showing signs of fatigue as we have a potential triple top at the recent highs […]

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Catching a falling knife

Catching a falling knife can sometimes be painful and though a bit early on my recommendation to buy pork…it appears the move I anticipated is under way. As of this post April lean hog futures are higher by 3.53% on the day trading above their 9 day MA for the first time since early February. […]

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Live cattle correlates to the S&P

Energy: Crude oil gave up 0.70% to close under its 8 day MA. The next downside hurdle to overcome is the 18 day MA, currently at $87.40 in January. My stance is more downside to follow. RBOB traded lower by 1.90% to finish at its up sloping trend line mentioned in previous posts. When this […]

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Live cattle looking bullish

Energy: Crude oil lost 0.82% failing to close above its 8 day MA the last 2 sessions. My target on the next leg down is $89.25 followed by $87 in November. Heating oil closed lower for the third consecutive session just under its 8 day MA as of this post. If the 50 day MA […]

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Momentum shifting in Metals

Energy: Crude oil will close positive but an inside day and prices even with the bump remained below the 100 day MA. I like fading prices at this level anticipating a trade $5-8 lower in the coming weeks. RBOB failed to break the 8 day MA as we ended back over $3/gallon. My take remains […]

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Lean hogs are putting on some weight

Energy: Crude made it four days in a row inching closer to $90/barrel. While the daily chart is approaching overbought levels as long as prices remain above $87 I’m bullish. As previously stated above $90 barrel $94 is the next significant resistance. RBOB was within 1% of the 100 day MA at its highs, a […]

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