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Cotton futures for May delivery were lower by 43 points to close at 90.01 a bale in a lack luster trading session. Cotton is retesting recent lows of around 89 with contract lows of 84.20 which would be the next support. In my opinion cotton prices could head higher going into spring and summer due to more planting of corn and beans, because farmers will make more money planting grains rather than cotton.
Click on the link below to watch Michael Seery talk about the cattle , hogs, and where he thinks grain prices are headed, if you have any questions please call me at 800-615-7649
The commodity and stock markets are set to open higher on positive ideas that the economy is improving and reversing the pessimism oft he last couple of days. Every single commodity is higher except for sugar which is down 10 points at 24.16 and still stuck in a tight trading range. Soybeans are making new highs once again up 5 more cents at 12.60 and the rest of the grains are higher by 3 cents.
If you make a living farming in any sector such as grains, dairy, energy products, or any other type of commodity, in my opinion if the price fluctuates greatly than you should hedge to limit risk. These commodities listed above move greatly up and down throughout the year and not having any sort of hedge on your commodity is dangerous. A hedger wants to limit their risk on the downside in case prices plummet and the way to do that is by purchasing puts.
The U.S dollar is sharply higher today against the major foreign currencies today sending the commodity market as well as stocks sharply lower. The Euro currency and Australian and Canadian dollars are down over 100 points each. I think this is a a pullback which should be bought on dips such as buying the metals,energy, and grains,
If you are a farmer concerned about the price fluctuations of grains,meats, or energy products learn how to hedge like a professional and minimize your risk. If you are interested in hedging please call me at 800-615-7649 and we will discuss strategies that will protect you.
There is an interesting article about one of the worst drought on record in Mexico which has killed over 60,000 livestock and lowered corn production from 20.5 million tons to 18,4 million tons. Mexico is the main supplier of cattle to the U.S and one of the main reasons that feeder cattle is at all time highs.
The bulls are out early today buying stocks and commodities on the idea that world economies are improving. The grain market has reversed all loses from earlier in the week and wheat has broken out to a 12 week high this morning. Take a look at the lumber chart, it look like it has bottomed and could break out to the upside very soon. In my opinion all commodities and stocks are going higher due to QE3 which is coming this spring.Search
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