No China ASF Visit Wall Street and Chicago headed lower after President Trump signaled that trade negotiations with China were not proceeding as hoped. He basically said China purchasing agricultural commodities is not enough, that he wants a complete deal and he doesn’t need it before the 2020 election. The reaction was somewhat muted because as Jody Lefcourt pointed out in today’s Technical Perspectives report, traders do not trust rallies based on trade policy optimism. Chinese agriculture officials scheduled to visit U.S. farm states as a sign of goodwill promptly cancelled the trip and went back home. This was probably fine with some in the trade who joked that farm officials from ASF-infected China should probably...
Beef packer margins improved to -$130/head last week, up $44 from the prior week as sharply lower fed cattle prices more than offset continued seasonal weakness in the Choice cutout. The cutout declined to $373/cwt while fed cattle prices fell to $238/cwt, allowing packer spreads to recover for...
What You Need to Know Today: The conflict between the U.S. and Iran continues to escalate with the two sides exchanging attacks over the weekend. President Trump said Iran “will pay” for recent attacks that claimed the lives of U.S. troops stationed in Jordan. There are some signs...
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Illuminating the value of technical research
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