The cattle market has been overbought for the last week with futures currently trading 2.4% off recent highs made 7/28.
Live Cattle – Looking for a 5% Drop
read more
Ags out of Favor…but for How Long?
The weather has been ideal in the Midwest and I can attest as I am a Chicago resident, but more importantly in corn and soybean producing areas domestically the farmers have had ideal temperature and precipitation.
Just in Time for Mother’s Day: Cotton & Gold
The women I know love clothes and gold and I think both at least at the wholesale level will be going on sale in the very near future.
Crude Breaks Its Trend Line
In the last two weeks June Crude oil futures have come down nearly $5/barrel and are presently trading below the $100 psychological level for the first time since 4/8.
As Temperatures Rise, where Will Heating Oil Prices Go?
See chart 1 below for June heating oil futures over the last 12 months
Flight out of Safe Haven
Clearly the trend has been higher in the last four months as June 30-yr bonds futures have climbed 8 handles.
FX Play in the Cable
The recent ascent in the British Pound has lifted futures near 1.6800 in June challenging the highs from mid-February.
The Aussie – The Currency Down Under
As go commodities, so goes the Aussie dollar.
Copper – The Ship is Leaning One Way
Copper futures are lower by 11.6% ytd and the most recent leg has caused prices to implode 7.7% just in the last two weeks.
Dr Copper – What’s the Diagnosis?
In the last five weeks copper prices are lower by 6% finding mild support at the 61.8% Fibonacci level just above $3.18. Expectations of a continued slowdown in China has weighed on futures.
Natural Gas – Bearish Spread
For the third session in a row an impressive acceleration higher with natural gas prices gaining 13% within that time frame
Four Soft Commodities – The Forgotten Sector
I track and follow approximately 50 different commodities and I must say that the softs sector where I do a fair bit of trading for clients is ignored too much in my opinion.