Blog

08 Feb

Meats Mixed In Quiet Trade

in Blog, cattle, feeder cattle, hogs

Live cattle futures for April delivery continue to flirt at contract highs however settling higher by only 20 points to close around 128.75. Feeder cattle prices were also quiet today waiting for tomorrows USDA crop report for new fundamental data which could determine the short term direction. Feeder cattle prices closed higher by 45 points to close around 155.40 while hogs futures were lower by 10 points to close at 98.35 for June delivery.

 

08 Feb

Unleaded Gas Hits New Highs

in Blog, crude oil, heating oil, unleaded gas

Crude oil futures for March closed higher by only 30 cents to close around 98.70 a barrel however at one point during the trading session traded above $100 dollars a barrel. Unleaded gasoline made fresh contract highs today to close around 2.97 a gallon and looks likely that it will cross over $3 dollars a gallon soon and produce a cost hike that consumers will see at the pump. Heating oil was down only 50 points to close around 3.18 a gallon in a two sided trade today.

08 Feb

Grain Market Has Big Swings: Awaits Report

in Blog, corn, oats, soybeans, wheat

 The grain market had some wild swings today erasing early gains just too turn negative going into tomorrow’s USDA report on crop inventories and production. There are many mixed views on how large the South American crop will be and what the size of the carryover. The report last month was very bearish across the board with corn trading limit down and wheat and beans sharply lower.

08 Feb

Gold & Silver Lower On Profit Taking

in Blog, copper, gold, platinum, silver

Gold futures sold off sharply today erasing early gains finishing near the lows of the day at 1,730 an ounce down over $18 dollars. Profit taking blamed for the selloff. Silver futures also reversed early gains by selling off 50 cents to close around 33.75 an ounce. Today’s trading session was very volatile and should continue with wild swings on both sides. Copper futures finished higher by 200 points to close around 3.90 which is a new 6 month high.

08 Feb

Commodities Higher On Weaker Dollar

in Blog, commodities

The commodity markets are slightly higher today buoyed by a lower dollar against the foreign currencies. Energy futures are higher again with heating oil and unleaded gasoline hitting contract highs while awaiting the API report which comes out this morning. I think all the markets are going higher and one should position themselves for higher commodity prices and therefore higher prices at the store.

07 Feb

Feeder Cattle Near All Time Highs

in Blog, cocoa, coffee, feeder cattle, hogs, lumber, sugar

 Feeder cattle prices are still hovering around their historical highs at 155 this week awaiting a crop report on Friday from the USDA Department of Agriculture which could impact cattle prices because of the cost of feed such as corn or soymeal go higher which can send cattle prices lower. In the last year feeder cattle has kept climbing and still looks like there could be further upside to go.

07 Feb

Watch Mike Seery On Bloomberg Thursday 9am --Talking Commodities

in Blog, Taliking About Commodities

On February 9th which is Thursday, I will be on Bloomberg business channel at 9AM CT discusing the bond market as well as the impact of historically low interest rates on stock and commodity prices. If you are looking to invest in bond futures or any commodity please call me at 800-615-7649 and I will help you with any questions you may have.

07 Feb

Lumber & Sugar Lower; Cocoa & Coffee Higher

in Blog, cocoa, coffee, lumber, sugar

Lumber futures sold off 600 points to close around 266.20 today blamed on profit taking from the recent run up in prices. This market in my opinion is bottoming and should be bought on dips. Coffee rallied from early lows to finish higher by 200 points to close around 221.10.

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