Bellies Up On Japan Ban
Marc Dupee will be out of the
office until April 9. In his absence this column is being written by
TradersWire’s Duke Heberlein.
May pork bellies
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on news that Japan has placed a ban on all pork from European Union countries.
The EU is the major supplier of pork to the island nation and according to
estimates coming out of the U.K, the foot-and-mouth disease epidemic will worsen
in the coming weeks and months. Bellies gapped higher on the open and never
looked back, closing on its contract high, up 3.00 at 94.475. April lean hogs
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cattle
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to be sold, falling .275 and .875 in their respective contracts.
Stock index futures ended the week in a positive fashion,
with the Nasdaq 100 futures
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futures
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Switching places with the index futures, T-bonds
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In the grains, May wheat
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rebounded slightly from what many analysts had called an oversold condition,
gaining 2 1/4 to 262 1/4. Corn
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fashion, up 1 3/4 at 207. Soybeans
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oversold grains rebounding, closing at up 2 1/4 to 436 1/2. Soymeal
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oil
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April crude oil
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the projected cuts in production by OPEC. CLK1 closed .76 to the positive at
27.30. Heating oil
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gasoline
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made it a clean sweep into green territory, closing the session up .068 at 5.33.
Metals enjoyed a positive day as well, with April gold
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gaining .30 to 261.70 and silver
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In the softs, cocoa
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thrust higher, up 12 to 1036 while May cotton
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a Turtle Soup
Plus One Buy setup, ending at 48.06, up .92. Coffee
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continued to trade in a choppy fashion, losing .10 to end up at 60.10. May sugar
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day .09 to the downside at 8.37, and orange juice
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to head lower, down 1.55 to 74.65.
Concluding with the currency markets, June dollar
index futures
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Soup Plus One Sell falling .36 to 116.12, while the rest of the lot managed
to post positive closes. Swiss francs
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.0005, the Japanese yen
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futures
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