Kleist Comments

CLOSING AGS 6/26/13

CLOSING AGS 6/26/13

LIVESTOCK

Cattle: Cash cattle last week: $120- $121.50 and $194-195.00 dressed; boxed beef mixed on good midday volume; futures post a nice ‘follow through rally’ in the August contract while June obviously locked into the cash market. Would seem talk centered on—soon to bottom cash cattle markets (seasonally in line with last year I believe; better post-holiday beef demand; perhaps increased trader interest

Hogs: Interior hogs lower at dn. $67/$2.01 early; pork midday cut outs higher early; futures lack luster all day. Some talk that if cattle bottoms pork will top and I will not argue with that necessarily. July under $100.00 a bull warning flag but keep in mind a Pig Crop comes out Friday afternoon. Gas prices got one down? EIA reports stocks at a 21 year high! Yes, 21-year high.

GRAINS & OILSEEDS:

Corn: July leads the market again on the same old reasons while weather throws some pressure on the new crop. Trade also expecting a bullish quarterly stocks report.

Soybeans: July also the big dog on tight nearby supplies as usual and a widening basis. New crop light pressure on generally good weather here and China economic troubles.

Wheat: Prices held higher most of the early session, perhaps on potential damaging rains. However, upside limited on harvest pressure amid reported good yields and quality; on good Black Sea crop conditions and competitive sales already showing up.

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.