April 30th Thursday / Last Trading Day April Cattle
Rumor about China going to buy 10 mt. of Beans, 20 mt. of corn and 1 mt of cotton gave the markets a bounce. China wants to build there state stocks. OK then
Brazil will produce record amounts of Ethanol as demand fights the virus.
Big Bear (for the week) is watching the Brazil Real making new lows and the US Dollar rallying.
Smithfield = Euthanizing pigs
Cattle backing up = put more weight on them
4 week avgs
CK 323.75 CN 330.50 CZ 345.25
SK 850.50 SN 857.50 SX 858.75
WK 552.50 WN 546.50
LCM 84.33 LCQ 87.08
Last weeks range / 50% of that range:
CK 312.25 CN 320 CZ 334.25
SN 837.50 SX 844
LCM 83.80 LCQ 89.50
Folks you must remember that my comments and numbers are done on the weekend. During the week news and outside markets move both grains and livestock.
Reason to follow me on twitter and or call during the week or nights for any updates for more support, resistance numbers.
Going to be interesting to see how much corn is planted Monday afternoon. Sure its early in some areas and has been cool but the ground is working just great.
Scott Capinegro 800-942-1513