Morning Ag Markets – Pete Loewen 09/18/18
After a stellar, bullish close to last week’s cattle complex futures trade, it was a surprisingly dull session yesterday. The daily range from high to low was still more than $1 in most contract months in the live and feeder markets, but the closes were mixed and very quiet on the net changes versus Friday’s finish. Chart technicals across the cattle look really, really bullish with a lot of new highs last week and a few months pushing lightly into new highs again yesterday at the peak. Those technical bullish signs are coming in the face of fundamentals that are pointed the opposite direction though, given total meat supplies across the board. If funds and managed money want to keep hitting the buy button and…