Brett Crotts

Schwieterman: Live Cattle Futures Show Some Strength, Corn Exports To Receive Boost From Mexico

Fri, 20 Nov 2009 22:40:16 GMT

The US Dollar Index fell to a new low for the move on Monday, but posted an outside week higher on the charts. It will be interesting to see if we get any follow through strength in the Dollar next week.

Schwieterman: A Reversal Lower In Overnight Corn Prices Could Aid Feeder Cattle Recovery

Fri, 20 Nov 2009 13:55:27 GMT

Feeder cattle were supported by the live futures on Thursday, but just managed to hold their head above water, posting very modest gains. Cash trade continues to hold near recent levels, and appear capable of showing some index improvement over the next few days.

Schwieterman: Live Cattle Futures Post Heavy Losses, Corn Starts Day Under Pressure

Thu, 19 Nov 2009 14:09:22 GMT

Live cattle futures posted moderate to heavy losses on Wednesday, in spite of the widening choice select spread and the largest beef movement day in more than 5 months. Weak cash trade that began in the north and filtered into southern trade provided the selling.

Schwieterman: New Buying Moves Live Cattle Futures Higher, Corn Up On Outside Market Support

Wed, 18 Nov 2009 14:10:57 GMT

Live cattle futures closed moderately higher on Tuesday, as new buying in the market took over in the second half of the session. Open interest was up over 7,800 contracts for the day, a huge boost in activity. Asking prices remain firm, with the south still looking for a rebound into the $86-$87 level.

Schwieterman: Feeder Cattle Futures Post New Contract Lows, Corn Down Overnight On Stronger Dollar

Tue, 17 Nov 2009 14:09:54 GMT

Feeder cattle futures posted new contract lows everywhere except the soon to expire November contract on Monday. Sharply higher corn values were the key to the sell off, and losses of .10-.30 were considered minimal considering the extent of the corn rally.

Schwieterman: Cattle Trades Lower, Corn Up On Weak Dollar

Mon, 16 Nov 2009 14:18:33 GMT

At the moment we are back to a trading situation where a weak Dollar results in strength in just about everything else. The corn was firm overnight, but hasn’t pushed through any of the recent highs.

Schwieterman: Cash Cattle Down, Corn Holds Gains

Sat, 14 Nov 2009 00:52:23 GMT

We had the November supply and demand report this week. It wasn’t particularly interesting as it didn’t hold any major surprises. Corn production was cut and soybean production was increased. Corn exports were cut and soybean exports were increased.

Schwieterman: Live Cattle Futures Plunged Lower, Corn Higher On Weak Dollar

Fri, 13 Nov 2009 14:07:16 GMT

The corn was weaker yesterday, but held on rather well considering the outside market action. The corn is still positive for the week and was higher at times over night. If the Dollar stays weak through the day, I would expect to see a very solid close in the corn market.

Schwieterman: Beef Prices Weaker, Corn Lower

Thu, 12 Nov 2009 14:13:19 GMT

Feeder cattle futures closed sharply lower on Wednesday, with March and April contract putting in new contract lows on the break. The Active January contract is testing its lows in overnight trade.

Schwieterman: Feeder Cattle Futures Feels The Pressure Of Higher Corn Futures

Wed, 11 Nov 2009 14:15:25 GMT

Live cattle futures closed modestly lower on Tuesday, with lack of strength in the beef market and continued liquidation of long positions weighing on the market. Some light cash trade in eastern Nebraska late in the afternoon as low as $132 is disappointing.

Schwieterman: Feeder Cattle Futures Lose Ground, Corn Opens Higher

Tue, 10 Nov 2009 14:27:32 GMT

This morning’s corn numbers were slightly friendly with the production and yield estimates coming in a touch below the average trade guesses at 12.921 billion and 162.9 bu./ac respectively. Ending stocks were in line with expectations at 1.625 billion.

Schwieterman: Corn Supported By Weak Dollar, Live Cattle Futures Close Lower

Mon, 09 Nov 2009 14:16:47 GMT

Feeder cattle futures closed the week with modest losses of .70-.75 basis the January contract. The pull back came in spite of corn futures giving up .30 for the week. Overnight trade brought some strength back into the corn market, providing less incentive for a feeder rally.

Schwieterman: Lots Of Corn Still To Be Sold, Charts Suggest December Cattle Headed To $83.50

Fri, 06 Nov 2009 22:13:18 GMT

The December gold made new all time highs this week and moved briefly above the $1100/oz. level. It was a very impressive rally considering the Dollar did not fall to new lows for the move. However, it does look like the bounce in the Dollar is over with and it won’t be surprising at all to see new lows next week.

Schwieterman: Little Sign Of Strength For Corn, Feeder Cattle Futures Move Higher

Fri, 06 Nov 2009 14:22:47 GMT

Feeder cattle futures appeared to break out to the upside over the past two days, led by the January contract gaining 1.90 over the two sessions. Any weakness in deferred live cattle futures is likely to stifle further rally attempts in the feeders.

Schwieterman: Feeder Cattle Futures Explode Higher, Corn Closes Poorly

Thu, 05 Nov 2009 14:17:38 GMT

Feeder cattle futures exploded higher on Wednesday, with January leading the way, gaining 1.42 for the session. The Jan contract exceeded or equaled the past 8 days highs, and broke the down trend line in the bull flag formation on the daily bar charts.

Schwieterman: Feeder Cattle Futures Follow Live Cattle Lower, Corn Market Stronger

Wed, 04 Nov 2009 14:31:09 GMT

It doesn’t pay to underestimate the corn market. Concerns about harvest delays and crop size, as well as fund buying, have been very supportive regardless of the activity in the outside markets. Today the outside market influences are positive, so we will see if there is even more buying interest today.

Schwieterman: Live Cattle Futures & Corn Finish Day With A Rally, Lower This Morning

Tue, 03 Nov 2009 14:30:07 GMT

Fund buying sent the corn market higher yesterday and overwhelmed any negative influences from the outside markets. Overnight that wasn’t the case though and the corn gave back some of yesterday’s gains. The Dollar Index took out last week’s high, which is going to be a concern today.

Thompson: Bearish Feeder Cattle, Corn Correction

Mon, 02 Nov 2009 14:28:46 GMT

Dec cattle finished out the weak and under pressure.

Schwieterman: Cattle Prices Down Despite Dip In Corn Futures

Mon, 02 Nov 2009 14:24:49 GMT

The corn was very active overnight. First the December corn tested the 50% retracement of the last leg up, then the market bounced back to close positive. Weather forecasts are dry and conducive to harvest, but weakness in the Dollar was supportive.

Schwieterman: Interesting Week For Cattle, Poor Wheat Fundamentals

Fri, 30 Oct 2009 22:33:40 GMT

The US Dollar Index didn’t fall to a new low for a change and made a sizeable corrective bounce.

Schwieterman: Weather Costing Cattle Tonnage, Wheat Finding Support

Fri, 30 Oct 2009 13:07:46 GMT

The ended the overnight session by giving up a sizeable portion of yesterday’s gains. The Dollar bounced back a little and the stocks slipped, which was enough reason for traders to sell.

Schwieterman: Live Cattle Cash Sales Reach $88 In The South, Corn Bounces On Weak Dollar

Thu, 29 Oct 2009 13:15:38 GMT

Feeder cattle futures recovered from early weakness to close with moderate losses on Wednesday. Overnight trade was quiet, with minimal trade on either side of unchanged. Look for prices to slowly begin improving if the live cattle can sustain strength in today’s trade.

Schwieterman: Feeder Cattle Futures Close With Modest Gains On Lower Corn Prices & Improving Cash Demand

Wed, 28 Oct 2009 13:16:06 GMT

The corn traded both sides of unchanged overnight in a broad range and ended the session near the lows. The failure of the $3.71 support yesterday points to a move down to the $3.58 to $3.45 area in the December contract.

Schwieterman: Feeder Cattle Futures Recover From Early Weakness, Corn Finishes Day Weaker

Tue, 27 Oct 2009 13:14:49 GMT

Feeder cattle futures recovered from early weakness, after getting a boost from 20 cent losses in the corn pit. Strong technical strength in the fats along with modest continuation in the corn overnight, should lead to higher trade in feeders this morning.

Schwieterman: Live Cattle Futures Finished Last Week Strong, Corrective Activity Expected For Corn

Mon, 26 Oct 2009 13:16:17 GMT

Feeder cattle futures had a solid week, in spite of the gains posted in the corn market. Cash levels are slowly rising and live cattle price improvement is giving hope for yearling and calf producers.

Schwieterman: Cash Cattle Higher For 2nd Straight Week, Corn Prices Up

Fri, 23 Oct 2009 21:02:36 GMT

We had yet another week in which the US Dollar Index fell to a new low for the move. Technical indicators are oversold and the market is due for a correction, but there is really nothing that indicates we are near a change in trend in the Dollar.

Schwieterman: Live Cattle Prices Hit $87 In The South, Corn Up Another 8 Cents Overnight

Fri, 23 Oct 2009 13:09:02 GMT

Feeder cattle continued to ignore surging corn values on Thursday, closing narrowly mixed and holding on to bullish chart patterns. The cash index rose modestly on Thursday, with the single day average pushing above 95.00 for the day.

Schwieterman: Feeder Cattle Futures Rally, Corn Export Sales Down

Thu, 22 Oct 2009 13:10:57 GMT

Live cattle futures gapped above key resistance levels on Wednesday and appear ready to challenge their next key resistance at the 100 day moving averages. Higher cash and cutouts have brought new buyers into the futures market.