Why Cattle Went Through The Roof
Stocks were up on Monday,
with the Dow +146 to 9216, the Nasdaq up
57 to 1721, and the Nasdaq up 50 to 1282. Investors are looking positively
toward the second quarter earnings season, coming next week. Bonds fell as
investors look forward to a second-half recovery. Ten year notes closed at 116
105, down 120.
August cattle
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PowerRating) made a contract high; the US/Canadian border is still
closed to beef trade. Cattle closed at 71.75, up 1.50.
Nigerian oil workers continue their strike — now
into its second week — with rumors of a settlement in the works. August crude
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PowerRating) was down .17 at $29.96.
With the Nikkei continuing strong — making a
10-month high — the Yen
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PowerRating) has also showed some strength. The Yen
closed at .8479, up .0002. The Dollar
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PowerRating) was up 1.00 at 95.90.