By Cassie Fish, http://cassandrafish.com  It’s a two-sided trade today for CME cattle futures today, raising the question as to whether today is a rest day before the market resumes the rally tomorrow or is the rally stalling out completely. December LC on back have posted a new high for the move, but October LC and the feeder […] The post Slowing or Stalling? first appeared on The Beef ..read more

By Cassie Fish, http://cassandrafish.com  Pick your market as they are all three sloppy. Choice boxed beef values are down $7/cwt from a week ago. Negotiated fed cattle prices are trading lower in the north and steady to weak in the south. And CME cattle futures have continued their downtrend today, after their 2-day rally failed yesterday.   […] The post Eroding Everywhere first appeared on The Beef ..read more

By Cassie Fish, http://cassandrafish.com  Choice boxed beef values printed at $309.95/cwt today, the cheapest since early May, slicing through the $310 to $312 support easily. It is a time of seasonal weakness heading into September, several years the cutout making its low for the year in September. The other notable stat was the choice/select spread, tightening to […] The post Support Penetrated first appeared on The Beef ..read more

By Cassie Fish, http://cassandrafish.com  The CME cattle futures rally is still rolling, taking out yesterday’s highs but not yet eclipsing last week’s highs with the exception of soon to expire August. Cattle futures are being joined by a big green day in all ags, from corn to hogs to beans to wheat. Perhaps the weaker U.S. dollar […] The post Still Rolling first appeared on The Beef ..read more

By Cassie Fish, http://cassandrafish.com  As has been the pattern, beaten up CME cattle futures are staging another short-term rally to relieve the oversold condition created by the big sell-off. Since topping about a month ago on July 25, most active October LC has declined $16.32/cwt, almost 80% of the rally from the major low last December to […] The post Bounce or Bottom? first appeared on The Beef ..read more

By Cassie Fish, http://cassandrafish.com  The downside momentum mounted in CME cattle futures today as new lows were once again made for the move, only this time, the market managed to recover some of the daily losses and some contracts closed higher. The velocity of the early break was stunning and intimidating and the overall bearish market action […] The post Flush first appeared on The Beef ..read more

By Cassie Fish, http://cassandrafish.com  CME cattle futures resumed the downtrend today with a vengeance, making new lows for the move in every contract month. Some contracts are making contracts lows, others have decimated the April lows. It is a technical wreck. Market action doesn’t lie and this market hasn’t acted good since topping in midsummer. Feeders have […] The post And It All Falls Down first appeared on The Beef ..read more

By Cassie Fish, http://cassandrafish.com  After a very ugly down day on Friday, CME cattle futures today are posting quite swingy action—an early rally failed, followed by a sell off then another half-hearted recovery. For those bulls and bottom pickers, today has to be frustrating and disappointing.  Cash fed cattle prices have fallen $6/cwt the past three weeks […] The post Swingy first appeared on The Beef ..read more

By Cassie Fish, http://cassandrafish.com  The July retail beef price series was just released and retail beef prices shot up even higher, likely putting it out of reach for many consumers at this back-to-school time of year. Pork and chicken are much cheaper and are amply available. JBS mentioned in their earnings report that pork and chicken sales […] The post Good Grief! first appeared on The Beef ..read more

By Cassie Fish, http://cassandrafish.com  CME cattle futures, especially the beat up feeder cattle and back month fats, are finally getting a significant corrective rally going. As the market comes up for air, the daily technical indicators move higher and last week’s highs have been eclipsed. The market is still dollars below the high from two weeks ago, […] The post Footing Finally Found first appeared on The Beef ..read more