In this episode of Tech Talk, Andy and Cody discuss spot whey, cheese, butter and nonfat, plus a quick trip to GameStop.
Questions or comments? Charts you’d like to see? Contact us at Insights@Ever.Ag, or give us a call at (312) 492-4200.
Charts sourced from Ever.Ag Platform.
[bg_collapse color=”#004053″ icon=”arrow” expand_text=”Show Transcript” collapse_text=”Hide Transcript” ]
(Transcipt auto-generated)
00;00;00;21 – 00;00;09;22
Future trading involves risk and is not suitable for all investors. Content provided in this site. Map is meant for educational purposes and is not a solicitation to buy or sell commodities.
00;00;09;24 – 00;00;10;13
Hello everybody.
00;00;10;13 – 00;00;16;13
Welcome back to another episode of Tech Talk. I am Cody, he is Andy. We are coming to you live.
00;00;16;15 – 00;00;17;06
Live on.
00;00;17;06 – 00;00;24;22
Tuesday, Tuesday, new day, new bat time, same bat channel everybody till the 11th of June.
00;00;24;25 – 00;00;31;22
New bat time, same at channel. Saying that we’re all for bats.
00;00;31;22 – 00;00;41;20
All of that change around. Paige and Lexi wanted to get it out a little sooner in the week, so people had some extra time to look at it, which we greatly appreciate. So we are rocking and rolling on Tuesday afternoons now.
00;00;41;23 – 00;01;01;09
You got to give the people what they want, and that’s more TikTok, but we’ve got, five charts, five charts, five count and 5 in 1 hand. Five. It’s wild. Today we got some great ones. We talk about good ones. You’ve got great ones. Great. We got we’re we’re doing. We’re gonna have a nice little spot session today.
00;01;01;16 – 00;01;05;19
Spot markets in the dairy starting with way. We’re going to go in order. What do you think.
00;01;05;19 – 00;01;08;18
Hairballs dry way up again today I mean.
00;01;08;21 – 00;01;09;24
Again.
00;01;09;24 – 00;01;13;00
Looking, pretty pretty perky here on the old chart.
00;01;13;06 – 00;01;27;28
Pretty perky. Whether or not the Nasdaq makes it up there. We’ll see you, right? Yeah. This is a weekly a dry way on the spot basis. Right. Check out Joe Schmidt bases Loaded to learn more about nips are. And you know the difference between the two. See me in and observe. But yeah, no, this is I mean, we kind of put it around.
00;01;27;28 – 00;01;47;13
We got down. What is this, like, close to 35? I don’t think the Npci ever printed it in that area. Right. So it seemed like, you know, that price was in line for this world then, you know, here we are kind of back towards 53, and we’re kind of doing it here over the last couple of weeks. I mean, for a while it was just kind of like steady Eddy, you know, just not really doing a whole lot, but then start to get a little perky there,
00;01;47;16 – 00;01;49;05
Taken up towards $0.50.
00;01;49;07 – 00;01;57;03
Taken up. So first $0.50. That’s that’s got some interesting ramifications for a couple products. Class three I mean, you go from what is it every penny anyway $0.06 in class three.
00;01;57;06 – 00;01;57;11
Is.
00;01;57;11 – 00;02;06;11
Correct from 40 to 50. What is that 60 times ten. Carry the one. And I’m math was never to do it. I think that $0.60 100 isn’t it. There you.
00;02;06;11 – 00;02;07;08
Go.
00;02;07;10 – 00;02;13;12
That’s a lot when you think about like, you know, you don’t have to move. You’re not moving the cash market to cheese market at all. Right.
00;02;13;14 – 00;02;15;04
Yeah. And dry wine by itself.
00;02;15;07 – 00;02;18;25
Correct. You just adding $0.60 in a class three. But I’m going to for you to 57.
00;02;18;25 – 00;02;21;10
Which if I’m not mistaken, is there a gap there at.
00;02;21;10 – 00;02;25;16
$0.50 is terrible. Check it out. Like right there Richard.
00;02;25;17 – 00;02;31;20
It’s be a gap chaser is people will call us unfairly. But if it’s there you might as well Jason okay.
00;02;31;21 – 00;02;36;02
Well first of all, let’s, let’s let’s be really clear about something. I don’t think you hate being a gap chaser.
00;02;36;02 – 00;02;41;27
I think I’m actually not. I actually love it. I think people coined us with that name in the company. That’s fine. Where it proudly.
00;02;42;01 – 00;03;01;25
Yeah. There you go. Let’s chase this gap. I mean, this is I agree. I mean, this looks like it’s hidden. It’s we got to go sell this bad boy and this $0.51, and they’re interesting. And so I said it not only has ramifications obviously for class three, but think about like for that with the back of the envelope math is that way is you know the non side divided by three basically.
00;03;02;00 – 00;03;16;24
Correct. I know that’s not a hard and fast rule, but it’s a it’s a nicely kind of rule of thumb sort to speak. Right. So if wage really is going to be good at $0.50 is fat or look at not in the second, don’t you worry. It’s true. It’s kind of in the teens low 20s maybe that’s undervalued of ways worth $0.50.
00;03;16;27 – 00;03;25;11
We’ll see buddy. But this little gap here, right here. Now, do you prefer gap or Rusedski. Just gap.
00;03;25;13 – 00;03;27;10
For Rusedski. That’s. That just sounds better.
00;03;27;16 – 00;03;30;17
So you have to have like it has to be prefaced by. All right.
00;03;30;17 – 00;03;35;24
Well something. Yeah. Well, exactly. It sounds like we’re hip, right? We know what’s going on. We’re cool.
00;03;35;26 – 00;03;36;23
I mean.
00;03;36;25 – 00;03;37;16
Technicians, I.
00;03;37;16 – 00;03;52;22
Talk. This is the word slaps and I’m still it’s true out. So we’ll see how cool we really are. But let’s move on. We’ve got we’ve got a lot of charts to get through on this one in order see me week, which is talk about gaps. We talked about this one potentially getting filled. Now look at that way man.
00;03;52;23 – 00;04;01;25
I mean this is looking like it wants to at least. Is it going to make an m. It looks it looks like it wants to at least go test this area 2 or 3. And that’s not another another $0.06 from here.
00;04;01;28 – 00;04;12;26
Well I think that’s the interesting interesting part about it’s doing these on Tuesdays. Now we used to say on Thursday hey we have one more day and spot. You know it’s we’re we’re kind of we are where we are on Tuesday. Anything could happen.
00;04;12;29 – 00;04;13;22
And I think.
00;04;13;25 – 00;04;19;23
We could be $0.10 higher. We could be $0.15 lower. There is no telling because we’re not even halfway through the week. So we got.
00;04;19;23 – 00;04;21;00
All kinds of time.
00;04;21;02 – 00;04;29;23
Exactly. I thought I thought it was kind of forming up to be an information also. Right. You start knocking on the door of two bucks, just like we did last time. And then what happens?
00;04;29;23 – 00;04;49;00
Well, so the only I guess the rebuttal to that is, you know, this is clearly two bucks is clearly a number where the market like, seems to find like once it crossed that threshold, it’s found consistent resistance here. You’re going to even get there here once it crossed two bucks here on this week next week it promptly I mean this is a dime lower week to week right.
00;04;49;00 – 00;05;07;12
Right through what they call so but what’s interesting about this is that looking at it just kind of taking a step back, it’s a big rally. Right. You’re talking about what what is this one 5142 up to 203 just a monster of a rally. And this is the best that the bears can do right here in response to that.
00;05;07;12 – 00;05;16;21
That’s that’s that’s weak source. This is the best of the bears can really do in response to this. So we’ve got a couple things coming up fundamentally. I mean we just saw that export report. Where do you get numbers.
00;05;16;23 – 00;05;17;17
It yeah.
00;05;17;19 – 00;05;29;28
Really year to date April I mean you can’t argue with that. Right. And then you’ve got the price action to boot. And so what’s interesting about this two is that there’s 2 or 3 number, a lot of that was based on the, the barrel. And if you remember there was that big spread between the block and the barrel.
00;05;29;28 – 00;05;31;21
That really isn’t the case anymore.
00;05;31;24 – 00;05;35;02
I mean it’s still kind of there though, right? Seven and a half cents. I think we’re back to right now. Yeah.
00;05;35;07 – 00;05;36;23
I mean, it was pushed down.
00;05;36;26 – 00;05;38;21
It was. Yeah. It was wide.
00;05;38;23 – 00;05;52;27
Yeah. So you I guess my point is, is that it doesn’t require the barrel, I guess in this case to go back to like it took 10 to 15, take the barrel to like 2 or 5 and take the block to two bucks. And you basically right back to here again. So this is this is a really interesting one.
00;05;52;27 – 00;06;06;24
Like I said big rally. This is the best they can do. And now you’re on the verge of closing in on this. And last one, this week’s high rate and this big red candles like open right here which is pretty close to two bucks. Now. It’s just it’s just over two bucks. We’ll see.
00;06;06;27 – 00;06;16;05
But if you start getting a close, if you get a close over 203, that’s going to be the highest, you know, close that we’ve seen going back into March of 2023.
00;06;16;07 – 00;06;23;01
Yeah I mean that’s a that’s a monster close. Yeah that would be a big close. In fact not just not March 2023, but you’re talking about 2022.
00;06;23;03 – 00;06;24;20
Well I was talking 2023, which is you want.
00;06;24;20 – 00;06;25;08
To go.
00;06;25;10 – 00;06;27;22
To ten, then you’re talking 2022.
00;06;27;29 – 00;06;52;23
Is that number is 203. You’re right. Okay. Good call. So yeah you get a you get a number over 2 or 3. You’re talking about a multi-year new high. Yeah. So yeah that’s interesting. And futures are kind of pointing that way. Right. See. But this chart I think at the very least is going to go test this number whether or not it makes a name, you know, you just got to be really mindful of like if you get that like a 2 or 4 foreclose on your little dicey, right, you could get a little wild.
00;06;52;25 – 00;07;01;04
So next one we’re trying to cruise right along this term. This is butter just cruising right along this uptrend I think we look at it.
00;07;01;07 – 00;07;04;26
Do we break that.
00;07;04;28 – 00;07;07;13
we never did on a close.
00;07;07;13 – 00;07;08;25
No no we didn’t.
00;07;09;02 – 00;07;29;03
Right. So you I think yeah it tried to and then just didn’t hang back you know trying to get in here but still like if you just looking at it when we move this line. But if you, if you’re just looking at today’s close and let’s get rid of this and let’s zoom in on this bad boy, we it’s technically.
00;07;29;06 – 00;07;40;23
Over it. Not by much, but it is over. So the uptrend continues okay. The uptrend continues. Now.
00;07;40;25 – 00;07;42;00
How about that though.
00;07;42;02 – 00;07;45;00
Still it yeah that was just not that.
00;07;45;06 – 00;08;01;24
That’s super interesting. We have managed to finally fill this gap. Took a while I mean you’re talking about this first couple weeks of November 2023 right. So we’ve officially fill that gap. So we’ll see I think I think the thing to be really mindful of is breaking this uptrend. You need to get a close below the trend and then open lower the next week.
00;08;02;00 – 00;08;21;09
Until then, this thing just continues to hum right along. And it’s not. It’s like the way I look at this chart too, like the price action of it seems sustainable, right? When you have candles like this where you’re, you’re opening at three bucks and you’re closing it 260 or whatever this number is. Yeah, the 60 to 40 cent break in a given week.
00;08;21;09 – 00;08;38;19
I mean, that’s just not sustainable. Price action can’t keep breaking $0.40 a week, right. but, you know, rallying a couple pennies a week and then just kind of doing that on average stair stepping. Let’s hope that’s a sustainable price action. So yeah, it’s still further notice the uptrend continues. But it is interesting. At the very least we fill that gap.
00;08;38;21 – 00;08;39;21
So we shall see.
00;08;39;23 – 00;08;41;12
The trend of the friend.
00;08;41;15 – 00;08;43;20
Don’t trade against the trend trend as your friend. That’s right.
00;08;43;20 – 00;08;47;02
The sneaky bull I think here is nonfat.
00;08;47;05 – 00;08;50;10
We just talked about. So before we talked about way.
00;08;50;13 – 00;08;55;12
I think everyone’s kind of been focusing on whey cheese butter and everyone’s kind of put nonfat to the back burner.
00;08;55;14 – 00;09;10;07
So take so take that rule of three. Right. 47.5 times three is one 42.5. Let’s do that. That’s where like that, you know take nonfat or whey multiply by three. You get a kind of like a rule of thumb. Now it’s like so.
00;09;10;10 – 00;09;13;11
You’re saying with that line, theoretically that’s not.
00;09;13;13 – 00;09;15;23
The case. If you subscribe to that rule.
00;09;15;25 – 00;09;17;25
Which I think people do.
00;09;17;27 – 00;09;32;10
Yeah. I mean, we’ll see. I don’t know, it’s it’s just it’s an interesting like, you know, when you start to think about along those lines like, hey, starting to really perk up, you know, we I feel like we just kind of got stuck in this like range of like 35 low 40s kind of thing come back down. But yeah, this is interesting.
00;09;32;10 – 00;09;42;03
I mean, you’ve got Bonanza. I mean it’s there. Okay. The higher higher low upside is what am I doing here.
00;09;42;03 – 00;09;54;21
This just think has been so focused on cheese and butter lately with I mean good reason to it. Absolutely. But nonfat is just been pushed. Nobody’s really talked about it. It’s back in the back burner and all of a sudden past couple sessions it’s looked at you know fairly bullish.
00;09;54;28 – 00;10;15;02
Starting to look a little perking. You have the 100 week average this line right here. This is a major average right. Yeah. So and then you’re finally are getting a little bit of I guess life out of the momentum to the upside for a while. You know this back and forth trade and then you broke I think the real like whether or not to really get the momentum going.
00;10;15;02 – 00;10;36;19
I think you have to clear that high that former high right there. Which is possible. Right. But yeah this is interesting. I mean you got a higher low. You got way that’s pricing. You take you know price away multiplied by three. You get this 142 interchange. That’s really interesting. And then you’ve got again you’ve got this long term average that if if that gets you know it gets broken through and then open higher.
00;10;36;21 – 00;10;43;12
You know, nonfat could turn into this little dicey. I mean it’s not like the southwest is getting any more milk and in these days. Right. Yeah.
00;10;43;12 – 00;10;56;19
Exactly. Exactly. As you get above 125, you’re talking numbers that we haven’t been able to go above, settle above since 2003. Again, we go back. We it seems to be a theme here. Right. We’re going back to 2003 and all these charts.
00;10;56;24 – 00;11;11;18
Yeah. Yeah. We’re it’s you know it’s like those cardio kids. Exactly. Like they keep like getting on the treadmill, fall off, get back on there. They’re just trying to like climb their way up to like in this case 125 and beyond. So like, it’d be cool band for you. By the way, the cardio case, I.
00;11;11;19 – 00;11;12;18
Would join that band.
00;11;12;18 – 00;11;23;17
But yeah, this this one like the to your point you get a close up. This one for that would also be a close over this this 100 week average. This period. This is 100 weeks. Right. it’s a simple moving average using 100 periods.
00;11;23;22 – 00;11;27;05
I think, as you said before, we would leave all that noise behind.
00;11;27;07 – 00;11;48;22
Correct. And it would be, let’s say you close in or over that price, right? That would be new, high, close. And since we haven’t really seen earnings, any prices like that since. And you have to go back to your point that 2023 level up coincidentally too. You know what’s interesting about some of these, some like just markets in general, is that when you have like markets tend to move in like have moves in threes.
00;11;48;24 – 00;12;06;21
Yes. The big trend breaks of the trend and consolidates and then has some sort of correction of the trend. Right. So I think in this case we’ve seen the trend end right. This downtrend we’re seeing the consolidation. And now you need to see some sort of retracement. And I just I just did the fib here just real quick.
00;12;06;21 – 00;12;18;29
Depends on where you want to like I guess put it in here. But I mean it’s just it’s just a let’s say the first leg of 33, it’s 137. Right. And it’s still less than what the, you know, three x of Y is.
00;12;19;02 – 00;12;19;18
Exactly.
00;12;19;18 – 00;12;25;04
What I think going to be a little bit nonfat. I could get a little spicy. Yeah. That’s that could turn into a cardio get here. We’ll see.
00;12;25;06 – 00;12;28;13
Seems like the sneaky bull in the market.
00;12;28;15 – 00;12;32;00
One more sneaky bull in this market. That is all over the news here.
00;12;32;00 – 00;12;36;28
Every song of the week. We’re excited about this one. A little out of the bounds. What we do on Tech Tok bounce.
00;12;36;28 – 00;12;41;29
But it did come at requests. It was a mystery guest that asked for if they’re going to remain anonymous.
00;12;42;00 – 00;12;42;27
That’s right.
00;12;42;29 – 00;12;46;13
We’re hoping get yeah we’re hoping to get roaring Kitty as a guest host.
00;12;46;15 – 00;12;56;11
If anyone out there knows who roaring Kitty is, who’s watching this, please let us know. We have bets on if anyone really knows who that is and if you know him personally, let us know. We would love to have him on the show because I.
00;12;56;11 – 00;12;56;22
Have to.
00;12;56;23 – 00;13;03;13
Show this guy is, He is he is in the news right now. If you know anything about GameStop, you’ll know exactly who we’re talking about.
00;13;03;15 – 00;13;19;18
This is just been such a wicked trade. And I mean, let’s just go back. This is a weekly this is going back to May of like a look at this just out of control. Like all the volatility that was having on there’s like the massive short squeeze that took place. it seems like it’s back in the news.
00;13;19;20 – 00;13;37;10
So I don’t know like I said it came a request. So you know we like requests. This is just interesting. I’m not I’m not by any means know anything about stocks on an individual basis. That said, I mean, hey, it broke this momentum. It tried to come back, couldn’t do it. And now you have this is today’s session.
00;13;37;10 – 00;13;40;24
This is yesterday’s session. This is a this is engulfing right here in.
00;13;40;24 – 00;13;42;11
Golf at whole candle.
00;13;42;14 – 00;13;46;22
This engulfing that is friendly especially if you get an open higher tomorrow.
00;13;46;25 – 00;13;48;08
Look at the movement on this thing though.
00;13;48;09 – 00;14;08;09
Just outrageous. It’s unbelievable. Like that level of volatility here. But yeah I mean this is a it’s a market and there’s a lot of participation in here. So I think it’s just it’s interesting like you have a lot of clear noise. But like this pattern this two bar pattern right here. If you do get an open higher tomorrow it could start to run away.
00;14;08;09 – 00;14;11;19
And like you could start to go test some of these former highs. It’s 48 bucks.
00;14;11;21 – 00;14;14;04
What was the high. What is that 150. What’s the high there.
00;14;14;04 – 00;14;20;18
55 I forget what that high was. This is going way back. But there was that all that noise going on.
00;14;20;21 – 00;14;29;23
But let’s just go back to like 2011. Just look at how streamlined everything is. And then you get to 2019 and it just it explodes.
00;14;29;26 – 00;14;47;22
Yeah. I mean this is a this is a small dollar stock kind of thing. And then but we have the big short squeeze and all of a sudden it’s this is just wild. So it’s just it’s just interesting to see how some of these markets kind of play out. But again, just looking at it just the chart that’s a we definitely have this this engulfing pattern.
00;14;47;24 – 00;14;53;02
This could be an inside out where you just we open higher tomorrow. Look out 45 bucks.
00;14;53;04 – 00;14;55;00
Watch out. Get your games a lot of GameStop.
00;14;55;06 – 00;15;03;00
Get your games about a GameStop. They mean I mean just they’re going to start going like hotcakes. Roaring Kitty is just going to be flying on this thing. But we’ll see. I don’t know financial markets just super interesting.
00;15;03;02 – 00;15;09;04
Yeah. What to me what sets them off the littlest things. Just the best.
00;15;09;07 – 00;15;19;13
Stocks tip I mean like you know your risk is limited to the share price that you pay. Right. So you know people can carry it for I would say a lot longer than ten minutes in a marginal position. Did you get those hamsters, by the way?
00;15;19;20 – 00;15;25;19
I did not know. I’m still waiting. I got to get my GameStop going here, and, maybe then we’ll buy a hamster.
00;15;25;25 – 00;15;32;21
If I can pitch this thing out at, like, 45 bucks and I buy you a couple hamsters and you park, I like.
00;15;32;23 – 00;15;34;22
What do you do to me in a box?
00;15;34;22 – 00;15;40;18
I don’t know, I mean, if I can make, like, 20 bucks a share on this stuff, like, yeah, I’ll ship you will hit the pet store like a.
00;15;40;18 – 00;15;41;22
Shipyard pet.
00;15;41;22 – 00;15;42;18
Store.
00;15;42;20 – 00;16;02;26
All right, everybody, we appreciate you. Tune in on this glorious Tuesday afternoon for the new time to time. Same place for tech talk. We appreciate Paige and Lexi as always going in and filling in the cracks. And until next time, if you have not subscribed like the channel told a friend, please do all those still try to get 10,000 likes by the end of this year.
00;16;02;29 – 00;16;12;09
And with that, we’re going to try again next week on Tuesday. We will see you then. But until next week, have a great weekend. Even better rest of the week. We’ll talk to you next time.
00;16;12;11 – 00;16;13;20
Luck next time. Have a good one.
[/bg_collapse]
The following music was used for this media project:
Music: Funky Intro 29 by TaigaSoundProd
Free download: https://filmmusic.io/song/9520-funky-…
License (CC BY 4.0): https://filmmusic.io/standard-license
Artist website: https://linktr.ee/taigasoundprod
