By: Ira Epstein

I've attached to the e-mail the CME schedule and have provide working links below for New Year's Holiday trading hours.

 ICE

https://www.theice.com/holiday-hours

NYSE

https://www.nyse.com/markets/hours-calendars

Conference Board US Consumer Confidence Index Headline Recap

• December Consumer Confidence Index: 122.1 ; expected 128.5 ; prior month revised to 128.6 from 129.5
  
• December Consumer Expectations Index: 99.0 ; prior month revised to 111.0 from 113.3
  
• December Consumer Present Situation Index: 156.6 ; prior month revised to 154.9 from 153.9
  

National Association of Realtors November Pending Home Sales Data

• Pending Home Sales Index M/M: +0.2%; expected -0.5%
  
• Pending Home Sales: +0.8% from year ago month
  

Consumer confidence as seen above feel back from its last reading but nonetheless remains strong. People feel good about things. They have a tax cut, the economy is strong and stock investments look to close out 2017 near or at all time highs. Inflation might be starting to percolate if you look at energy and metal prices. Both are in rallying phases. Natural gas has finally awoken to the fact that for the next 10-day frigid cold weather has grabbed the Midwest and through parts of the East Coast. I don't see Nat Gas as being bullish, rather overdue for a bounce.

The American Petroleum Institute will release their weekly stockpiles report at 3:30 pm CST this afternoon.  The EIA will update their weekly US natural gas storage report Thursday at its usual 9:30 am CT, the weekly US petroleum stockpiles data will be released at 10:00 am CT Thursday morning, a day later due to Monday's holiday. Flows through Britain’s most important oil pipeline, the Forties, has recovered to around half its normal flow rates according to trading sources today. Today's report is in sharp contrast to yesterdays, which came from the pipeline owner who said the ramp up would go slowly in early January. 50% production flow seems too much too soon to me. Had the Libyan pipeline not been put out of commission yesterday this news would taken with a more bearish bent than it's receiving today.

When the weather looks to clear, a top in cattle should be seen. There's plenty of animals out there but in frigid cold they stay put and often lose, don't gain weight. Cattle buyers didn't set any prices at auctions this morning. Today 637 animals were bought to auction but none sold with seller offering animals at 1.22 a pound. Last week's auction saw cattle sell at 1.20 a pound. Live hogs don't move to the slaughter house as fast either in freezing cold.