other markets

lean hog  calendar spread  J/M has been a one way trade as too much supply now ,may lead to not enough later as farmers pull back on Supply.Summer cant get here soon enough .

lh spread

The Chinese Yuan has strengthened to highest level in about 2 years vs. dollar. WSJ is reporting and  I tend to  agree that this strength could be a move by China to appease the White House cries of China devalues Currency to help trade.A few other notions were provided within story  but I believe a move like this is a subtle attempt to shrink the balance of trade between 2  countries.

Moving past 10:30 European cash  close DAX paying little interest to today’s movements in Nasdaq. Likely most Europeans gone on holiday and will be quite happy for DAX to move little. Dax closed -.3% and France’s  CAC unchanged

 

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