Walsh Trading Daily Insights Commentary June Lean Hogs opened higher, rallied past resistance at 104.35 to the session high at 105.50. The low came in at 102.725 and settlement was at 105.10. It was a nice short-covering rally in my opinion, which didn’t change much technically as the trade session was left with an inside candlestick. The rally stayed within …
Grain Spreads: Wheat/Corn
Commentary There is a lot of noise in the market among crop scouts and so-called industry experts saying there’s a higher probability that the US loses corn acres if it’s not 30% planted by the end of next week and 50% by Mid-May in my opinion. There are also rumors swirling that North Dakota needs to be ten percent planted …
Livestock Report
Walsh Trading Daily Insights Commentary June Lean Hogs continued its fall on Tuesday, breaking down past support at 104.35 and 101.975 to a new low for the down move at 101.875. The high came in early in the session at 106.50 and settlement was at 102.20. The inability of cutouts to forge higher and instead decline after peaking on April …
Selloff in June Hogs continues
The June hog contract fell significantly during the opening of the session today but had bounced off the lows to settle at 104.975. The volume was around the same level that was traded on Friday, indicating to me that there will be some follow through going into tomorrow’s trade. I still believe there will be follow through selling for tomorrow’s …