To “Read” Walt’s charts, keep the following in mind:
Support – this term refers to a trend line or price area under the market which is expected to hold the market from potential decline.
Resistance- a price area or trend line...
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Compiled by Jaydee Smith, Swine Specialist, OMAFA
Contact: jaydee.smith@ontario.ca
Ontario Market Highlights
100% Base Formula Price: $213.67/cwt, a decline from the previous week’s $217.03.
Weaned Pig Value: $55.55/pig (-$0.88).
Feeder Pig Value: $88.14/pig (-$1.38).
Market Hogs Sold: 125,518, a 103% increase...
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he Chicago Mercantile Exchange (CME) saw divergent trends on Monday, with feeder cattle futures retreating after a strong rally and lean hog futures advancing on robust wholesale pork prices.
Feeder Cattle and Live Cattle Decline After Rally
Feeder cattle futures experienced...
Market showing signs of a change of direction. Outside days, reversals, & breaking trend lines could contribute evidence of the turn. Increasing volume would confirm the change whereas decreasing volume would indicate the move is temporary.
If you know others...
Ontario Market Highlights:
Base Formula Price: Declined slightly to $221.76/cwt, compared to $227.02/cwt the previous week.
Dressed Weight Average: Remained stable at 106.88 kg.
Market Hogs Sold: Totaled 123,399, representing 111% of the volume from the same week last...
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Margins deteriorated over the first half of November, particularly in nearby marketing periods, as hog prices declined while projected feed costs were mixed with corn slightly higher and soybean meal lower. CME Lean Hog futures succumbed to pressure from...
The USDA’s November 2024 Livestock, Dairy, and Poultry Outlook delivers critical insights into the swine industry, covering production, pricing, and export trends as the year winds down. Here’s a full breakdown of the latest developments and projections.
Production Trends
Fourth-Quarter...