During the month of May, Crypto (+25.97%) and The S&P 500 (+6.15%) were the top performers. The only negative performance was from Interest Rates (-1.77%). The bullish performance in Livestock (+4.08%) was led by Lean Hogs (+10.23%) and Feeder Cattle (+2.14%). Livestock (+4.08%) has maintained strong momentum, marking its third…

Commodities: Global   OPEC Again Confounded Oil Markets in early May as the cartel repeated an increase in production by another 411,000 barrels per day (bpd).  This means that nearly half (44%) of the previous 2.2 mbpd in cuts will have been reversed, with another 411 mbpd in July.  Additionally,…

Tariff Terror   The Long-Dreaded Trump Tariffs unfolded at the beginning of April with rates that were in addition to current levels, making China’s over 50%.  Of course we have to remember that these taxes assessed at the factory value, not at retail, so the impact is on the cost…

During the month of April, Crypto (+6.26%) and Livestock (+4.11%) were the top performers. The bottom performers were Energy (-11.74%) and the S&P GSCI (-8.79%). The bullish performance in Livestock (+4.11%) was led by Lean Hogs (+4.80%).  The bearish performance in Energy (-11.74%) was led by Natural Gas (-18.62%).  Tariffs…