May Feeder Cattle was pummeled on Monday as the first reported case of a human contracting Bird Flu made its way over the internet. The case was located in Texas as the patient became ill following contact with dairy cows that were presumed to have been sick with the virus. Feeders broke down hard late in the session on Monday, …
Pure Hedge – Livestock and Grain
4/1/24 I said it would be a vicious break in the Cattle Markets. The move lower today should have your attention, and it’s not over. Do what you need to do to protect your downside exposure. I feel the Soybean Market will have a break like this shortly. Today June’24 Live Cattle was 4.92 ½ lower and settled at 175.32 …
Hogs Consolidate
June Lean Hogs stayed in neutral on Thursday, trading both sides of unchanged and settling just below the previous day’s settlement. The high came in at 102.85, the low at 100.675 and settlement was at 101.45. The market consolidated the past three days after the strong rally on Monday as traders waited for the Quarterly Hogs and Pigs Report that …
Pure Hedge – Livestock and Grain
3/28/24 The Livestock and Grain Markets were all over the place today. June’24 Live Cattle were 1.57 ½ higher today and settled at 180.25, just below today’s high of 180.55. The 1-month high is 186.62 ½. Today’s low was 177.75 and the 1-month low is 176.40. Since 2/28 June’24 Live Cattle are 2.12 ½ lower or just over 1%. May’24 …
Pure Hedge – Livestock and Grain
3/27/24 It was generally a slow day, compared to the recent volatility. Tomorrow at 11:00am central time, the Planting Intentions Report will be released and whether Bearish or bullish, there will be plenty of price action. The Livestock Markets were all a little higher today. June’24 Live Cattle was 30 cents higher and settled at 178.675 in the middle of …
Grain Spreads: Corn Realities
Commentary Corn drifted lower on turnaround Tuesday action as the market dropped to near term lows. Month and quarter end plus squaring up ahead of Thursdays on farm stocks may be attributed to the weakness. It’s tough to sustain rallies without meaningful demand longer term and with increased competition coming from Argentina and then Brazil in the weeks to come …
Hogs Start Week with Strong Rally
June Lean Hogs rallied on Monday, making the low early in the session at 99.20, racing to the high at 101.85 and the drifting the remainder of the day to settle near the high at 101.675. The price action formed a Morningstar Candlestick formation which indicates a potential bullish recovery in Hogs. The cutouts have rebounded the past couple of …
Pure Hedge – Livestock and Grain
3/25/24 The Livestock and Grain Markets were mixed today. The Cattle Markets continued lower today. June’24 Live Cattle were 1.30 lower today and settled at 181.600. Today’s high was 183.350 and the 1-month high is 186.62 ½. Today’s low was 180.75, just above the 1-month low of 180.62 ½. Since 2/23 June’24 Live Cattle are 2.25 lower or more than …
Cattle Futures Falter in Front of COF
May Feeder Cattle is now the lead contract as its volume has exceeded the volume of the April contract. Feeders broke down hard on Friday as liquidation in front of the looming Cattle on Feed report took place. Traders feared a bearish report and a bearish report is what they received. The breakdown in futures took price from the session …
Grain Spreads: Inspections Coming
Commentary Brazil’s soybean crop is expected to fall well short of last year’s record, but it’s also said to be over 60% harvested. That suggests increased South American competition in the near future with Argentina’s harvest following later in the Spring. Despite the double digit move lower today, volumes chasing the break were low. The US continues to struggle with …