Swift Trading Co.

"Shootin' The Bull" Commodity Market Comments...

For Thursday, April 18th

Live Cattle: What a great way to end the week.  Fats and feeders both higher on the week.  The polar opposites of cash fats at the highs for the year and feeders at the low for the year, coupled with discounted fat contracts and perceived excessive premiums in feeder cattle, makes for some unbelievable work to be done converging these basis.   

 

Feeder Cattle: I've preached my sermon all week.  I plan on stepping up to the pulpit again Monday.  I may be slapped, beaten, bloodied, or murdered by these recommendations, but I can not for the life of me see how the basis won't converge as it has since inception of the feeder cattle futures contract.  The only thing I can see would be that convergence does take place, but prices are are above the current levels.  If this were to materialize, I think it will be difficult to complain too much having made the basis spread and your cattle having increased in price.  Time will tell.  

 

Lean Hogs: Here is the path to the webinar that was produced on 4/16/19:  WEBINAR 
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Corn: ​Grains are weak.  Grains are anticipated to remain weak.  

 

Crude: Energies held their own this week.  I anticipate energies to remain firm.  

 

US Treasury Bonds: Bonds traded a little higher today.  Most recent price action leads me to perceive spring business activity is picking up.  

Christopher B. Swift is a commodity broker and consultant with Swift Trading Company in Nashville, TN. Mr. Swift authors the daily commentaries "mid day cattle comment" and "Shootin' the Bull" commentary found on his website @ www.shootinthebull.com
An investment in futures contracts is speculative, involves a high degree of risk and is suitable only for persons who can assume the risk of loss in excess of their margin deposits.  You should carefully consider whether futures trading is appropriate for you in light of your investment experience, trading objectives, financial resources and other relevant circumstances. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.


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