With the official BBQ season underway, exactly where are meat prices headed?

Market Pulse: May 31, 2011

COT Data

If you have been short since April like we have in Trends in Futures, then you may wish to tighten your stops to lock in profits as we may be heading into a correction from the drop since April. Keep an eye on the COT next Friday, it will tell us much with regards to “big money” posturing.

Have a prosperous trading week.

Commodity

12-mo low

12-mo hi

27-May

20-May

Cattle (feed)

-1,290

7,100

2,743

2,521

Cattle (live)

-73,179

-7,220

-7,220

-10,388

Hogs

-35,979

11,522

11,522

1,778

Corn

-413,915

119,389

-377,407

-347,597

Oats

-7,738

392

-4,087

-3,907

Soybeans

-203,260

34,246

-89,886

-77,971

Soybean meal

-90,487

-32,915

-52,700

-40,690

Soybean oil

-117,444

32,394

-61,757

-46,107

Wheat

-32,577

74,161

4,338

25,653

Orange juice

-18,350

-6,588

-18,350

-17,545

Coffee

-47,729

-13,098

-18,913

-23,702

Cocoa

-41,808

8,586

-12,063

-14,044

Sugar

-221,694

-104,595

-104,595

-105,697

Cotton

-69,857

-12,970

-34,765

-34,595

British pound

-66,435

97,211

12,229

-7,455

Canada dollar

-115,190

-13,109

-53,275

-57,413

Euro FX

-124,855

111,386

-22,818

-51,803

Japanese yen

-52,533

76,983

-283

-2,792

Swiss franc

-42,387

25,677

-28,263

-33,992

US dollar index

-24,676

14,003

-7,447

-2,963

Mexican Peso

-140,414

-14,488

-113,979

-110,479

Australian dollar

-110,025

-10,793

-67,820

-67,636

S&P 500

-88,893

33,981

-68,674

-66,746

T-note -10 yr

-74,761

235,451

129,054

199,338

T-bond -30 yr

-43,324

88,803

11,415

-6,810

Eurodollar

-1,179,414

105,872

-184,818

-293,517

Crude oil

-319,669

-23,057

-225,640

-231,527

Heating oil

-66,097

7,568

-34,726

-37,640

RBOB Gasoline

-85,987

-10,453

-52,727

-57,408

Natural gas

111,345

228,910

157,006

164,598

Copper

-36,201

1,793

-2,547

-3,168

Gold

-302,740

-193,197

-217,237

-206,949

Platinum

-34,909

-15,759

-24,224

-25,435

Silver

-65,413

-34,017

-34,959

-34,017



Commercial Net Tracker instructions: This form tracks the Commitment of Traders (COT) data for the commodity futures market. This form "looks" at the most recent five weeks of COT data and provides visual indications of the data. A) If the current value is at a 12-month low, the cell will display a red/burgundy background. B) If the current value is at a 12-month high, the cell will display a green background. C) If the current value went from net negative to net positive, the cell will display a blue background (indicating a bullish condition). D) If the current value is both a 12-month high and also went from a net negative to a net positive, the background will be green. You should view the data with green backgrounds to determine if they also went from net negative to net positive.

If you need help understanding how to understand how to use the COT report to your benefit, please email me at Gary@crbtrader.com and put COT report in the subject line. Please include your name and telephone number in the email.

Proceed to Page 3 for this week's detailed fundementals charts...

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