Analysts have their own things they are excited about with the start of a new month.
With the current state of the livestock markets, especially cattle. John Payne, senior futures and operations broker and market strategist with Daniels Trading, is enthusiastic about them and is keeping a watchful eye.
“You can make a really good decision that looks great six months from now or you can make a decision that really hurts the pocketbook three or four weeks from now,” said John Payne.
Jim McCormick, senior trading advisor and broker at Allendale, Inc., is concerned with market reaction and believes the trade is ready to see a rally. He thinks the funds could start lightening up the massive short position.
Watch what McCormick’s reaction on the fundamentals on AgDay above.