Agriculture

February live cattle rallied to round out Friday’s trade on weather concern and hopes that cash would surge after the close. Both of those premium builders came up short which helped erase those gains in yesterday’s session.
Soybean futures were mixed yesterday as much of the optimism around the Phase-1 deal seems to be priced in (see the 75-cent rally in December for reference).
February live cattle rallied to round out Friday’s trade on weather concern and hopes that cash would surge after the close. Both of those premium builders came up short which helped erase those gains in yesterday’s session.
Friday’s USDA report was mostly bearish Soybeans with yield, production, and ending stocks coming in higher than expectations. What helped prop the market up after an initial dip was technical support and optimism around this week signing of the Phase-1 trade deal.
Oliver Sloup breaks down the trading day in grain futures markets.
U.S. Department of Agriculture’s Export Sales Report for the week ending Jan. 2 will be published at 8:30 a.m. EST on Friday, Jan. 10, instead of Thursday, Jan. 9, due to the weather-related closure of Washington, D.C.-area federal offices.
Thankfully for the cattle market, it doesn’t trade overnight, and participants have the ability to digest information like this as opposed to reacting on emotion.
Livestock markets retreated on Friday as a risk-off atmosphere evolved, following an increase in tensions between the US and Iran. Market participants had the weekend to digest the information and the market recovered those losses today, taking us right back to the December 27th highs
Fundamentals: Soybeans took a tumble on Friday as US/Iranian tensions rose, prompting some profit-taking on concerns it could throw a wrench in trade negotiations with China.
March cocoa futures have rallied this past trading week as we leave 2019 and enter 2020. After the new year, the contract continued the move higher back towards 2550