Kleist Comments


Cattle: Cash cattle this week: $141.-144.00 & $226-228.00 dressed. On 25 boxed loads cut outs up. $3.01(c) to up. $2.57(s) on light midday movement.

Comments: 25 loads? Even for a day-after-holiday?……Feb. futures to new record highs anyway. Some talk of larger showlists a negative but not enough higher to me to call it bearish. Beef demand’s prices and tilt conducts the orchestra. No fresh news.

Hogs: Interior hogs, Not/Est.; Pork cut outs rose $1.31, bellies off $12.00????

Comments: Feb. is held back by its need to relate to the lean index but the April is free to roam. As such, I understand that the PEDVirus mentioned in my morning comments was able to find some fund-type buying. I might have to NOT look at the premium so much for awhile and play the technical which are emotions.


Corn: Not bad performance considering the hammering soymeal took. March corn held safely off contract lows though not sure if it pure bullish underlying fundamentals or inter-market spread unwinding.

Soybeans: I’ll get it off my chest: this is how I expected the beans to act after the last USDA report. So at least in here I can more honestly be neutral. All the chatter about bullish China buying seemed a red herring in that many believe we will see major cancellations as the South American crop prospers and their prices go deeply lower. We’ll see.

Wheat: Held contract lows by a hair, some what mimicking the corn action. Again, not sure its not just inter-market spread or spread unwinding. Rather than base.

Kleist Comments

This is John Kleist, of Kleist Ag Consulting.
Questions? Email me: johnwkleist@sbcglobal.net

Disclaimer: Trading options and commodities involves risk of loss and my not be for every investor. Past trading results may not be indicative of future performance. Although information and opinions provided herein are compiled from sources believed reliable, the sender, EBOT Trading, or its principals cannot attest as to accuracy or assume any responsibility for any errors or omissions as the information may not be complete or events may have changed.