put my Bullhide coat in the closet this week as I was finally able to get out of long August cattle for myself and clients. It wasn't the way we planned it or expected but this week was the 2 minute warning with game over on Friday. I was prepared to just pull the plug on all of them if our orders between 184.25-184.70 didn't get hit by midweek. This is the most anxiety I've felt for several years and the $1 loss on the trades actually felt like a winner. August has been a very frustrating month and the way cattle preformed this month is a clear indication the Bull is down to his last breath or two. My cycles have been screaming that is the case and negative rotations will probably engage during the first 10 days of Sept maybe even when trade begins next week, 3 day weekends always worry me.
Silly me, I don't even have any short Oct on the books, I've been waiting on 181.00-182.50 area. The orders have been working since the 16th and I foolishly only gave it some thought the day before when it was there. Now I'm waiting for a retest of that area that I fear won't happen. I may have to bite the bullet and put a few orders @ 179.90 resistance retest, to make sure we have something on. I do have some of my hog producers short Oct hogs @ 81.70-82.00 for our second attempt. The first attempt was at 77.50 but we decided to step aside the same day and wait for higher targets. That proved to be a wise choice on a gut feeling.