FOR MONDAY: (2/26) Not sure we learned anything from Friday’s action, with beans making a slight new high on the week but just by a hair get someone’s stop. Market should be sharply lower into Wednesday so that may mean the weather will shift so be protective; it may be that we have to sell a rally into Sunday or Monday morning. Cattle on Feed was considered neutral to bearish but market was a bit oversold going into it. Hogs also look lower for Monday.
APRIL LEAN HOGS
TRADING RECOMMENDATION: Stand aside.
TODAY’S COMMENTS: (2/26) Hogs held key support on Friday. Market should hold 7065 and reach up to 7455 this week. Given volatile cycles over the weekend, we’ll make sure that the market doesn’t tank before considering a buy on Tuesday.
CYCLES OVERVIEW: Lower into Monday; higher into Wednesday/Thursday; lower into Friday.
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