Livestock Analysis
Livestock markets rounded out last week’s trade with a higher close. Thanks to a strong fundamental backdrop, that has propelled futures higher yet again. How much more upside is left?
Equity markets had a strong finish to the month of April which spilled into strength to start May, thanks impart to strong earnings from a few tech giants. Gold and oil have slid lower over the last few sessions while grain and livestock markets remain choppy.
Grain futures were under pressure overnight, with corn retreating back to a cluster of major moving averages. Will technical support hold or giveaway?
Corn, beans, and wheat were able to see some strength into Thursday afternoon’s trade while livestock markets seemed to struggle to find conviction on direction.
Outside markets are under pressure to start the week, but grain and livestock markets are holding their own yet again. Focus shifts to weekly crop progress reports and ever-changing weather forecasts.
Grain markets saw minor pressure in Thursday’s trade. Are technical support levels at risk?
Grain and livestock markets saw some big moves last week and are seeing a choppy trade to start the shortened week. Here are a few things on our radar.
Grain markets were mostly higher in Thursday’s trade following a fairly friendly report, for corn in particular. Cattle futures continued to struggle in the midst of a risk off trade in the outside markets.
Grain markets are weaker on Monday and threatening technical levels not seen in some time. Cattle futures firm following a friendly Cattle on Feed report and a stout cash market.
Grain and livestock markets have traded on both sides of unchanged to start the week. Oliver Sloup was on RFD-TV this morning, sharing his thoughts on the early morning price action.