However, the critter complex is the weak link in the world of commodities this morning. The live cattle market is 100 to 95 points lower led by nearby futures. Feeders are 27 higher to 40 lower and the oinkers are 2 higher to 35 lower. The weakness is relatively modest. On the other hand, my technical work is suggesting that cattle, feeders and hog prices may end deep in the red by the close. Only time will tell if such a forecast comes to be.

Still, my technical work is hinting loudly that a sharp break may unfold in the livestock complex by settlement. Prices across the complex are weak and cattle, feeders and hogs are not quite but nearly the weakest hard assets anywhere. And by showing independent weakness, the odds are growing they may do quite poorly by settlement.

Anytime a market shows independent weakness compared to all other markets my hair tends to burst into flames. And as I type furiously away, I can see in the mirror across the room that indeed, my hair is on fire.

I haven't posted in a few days as not much has changed with me! Still Short!

Dewey