Lean Hog Futures—Hog futures in the February contract settled last Friday in Chicago at 68.17 while currently trading at 67.27 down about 90 points for the trading week ending on a sour note as this market remains weak despite bouncing off major support. In my opinion I’m looking at a possible bullish position as I’m currently not involved as I…
Live Cattle Futures—Live cattle futures in the February contract settled last Friday in Chicago at 126.20 while currently trading at 124.55 down about a 165 points for the trading week as prices look to break out of a 5-week consolidation pattern in my opinion. I will be recommending a short position if prices close below 123.12 which was hit on…
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Cattle Futures—Cattle futures in the February contract is slightly lower for the 3rd consecutive session down another 37 points at 125.42 as I’m keeping a close eye on this market for a possible short position as I do think prices are getting expensive. Cattle prices are now trading slightly below their 20 day moving average for the 1st time in…