Walsh Trading Daily Insights Commentary December Lean Hogs opened higher and took back some of Tuesday’s losses, consolidating within yesterday’s range and settling in the upper middle of the Tuesday range at 63.10. Thursday morning will show export demand and this could impact futures. The African Swine Fever up-ticked by 2 new cases in Germany’s wild boar population. The significance …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs opened lower and fell apart. Constant chatter about the larger than expected number of hogs weighing over 180# took its toll on price today, taking the December Hogs down to the lower part of its 2-week trading range. The December contract has traded from 61.25 low to 64.85 high since becoming the …
Grain Spreads: Inflation Plays Corn and Hogs
Commentary Big report coming tomorrow for Corn and then another one on October 9th regarding supply and demand. Yield estimates are all over the place. Some say Derecho damage in Iowa not as bad as feared. In other areas the corn looks bumper with areas in Minnesota, Southern Illinois and Indiana. Its never the same everywhere and this year its …
Soy and Corn Market Commentary
Commentary: The soy is under a bit of pressure. The meal has eased with weakness in beans. As mentioned last week the oil share has settled at approximately 32%. The weather has been positive for harvest. There is currently some small delays due to moisture. This however looks to be short lived. The question now will be if the yields are …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs consolidated within Friday’s trading range on Monday. Since becoming the lead contract, the December Hogs have been trading between 64.85 and 61.25. Cash has been strong (cutout prices and cash hog prices) as strong demand from both domestic and foreign buyers has led to rising prices. I think the Hogs and Pigs …
Grain Spreads: Corn Gameplan
In full disclosure, I was very bullish entering 2020 regarding corn and beans. The last 5 Presidential cycles revealed that corn and beans saw some type of sizable rally in those election years at some point, usually in the 1st or 2nd fiscal quarters. Until recently that prediction had me looking like a novice or fool, take your pick, as …
Soy and Corn Market Commentary
Commentary: The soybeans have set back approximately thirty cents from the high. In the process the meal market flat price has continued to rise. In addition the meal spreads have gained a considerable amount. They are now at a good inverse. The global meal supply has tightened due to Brazilian crush slowing, the Argentinian currency, and US down time. The …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs traded both sides of unchanged in front of Thursday’s export sales numbers and the Quarterly Hogs and Pigs report. The sales numbers will be released before the open and Hogs and Pigs are out after the close. Traders will be watching the Chinese sales numbers and exports to see how they are …
Grain Spreads: July21/Nov21 Soybeans
Commentary: If I am looking for a type of hedge or even a speculative play at these lofty levels for beans, I may consider looking this old crop/new crop spread. the demand for US beans has been insatiable by China. They bought again this morning and have been buying either beans or corn seemingly every day since the start of …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs broke down hard trading to the low at 61.40 and settling nearby at 61.55. This is below support at 61.80 and puts 59.825 in traders’ sights. Support is at 59.825, 58.25 and then 57.025. Resistance is at 64.80, 66.55 and then 67.80. The market reacted to the weakness in outside markets amid …