GENERAL – The state of the economy in my opinion is tenuous at best. There remain real concerns domestically, in Europe, and in China. The Chinese are attempting to lift the sagging real estate market through various measures. There are real long term consequences at play from China, in my opinion. The US has its own band of concerns. The …
Grain Spreads: Bean Potential
Commentary November soybeans also erased an overnight rally that pushed November 22 futures above 14.80 in early AM trading to ultimately settle 4 cents lower to close at 14.57. It is my belief that profit-taking emerged following the market’s climb to two-month highs. Prices gained initial amid concern dryness will curb yield potential in parts of the Midwest. Results from …
Livestock Report
Walsh Trading Daily Insights Commentary October Lean Hogs surged early in the trading session, racing to the session high at 96.975. By 9:25 AM it was over and done with. The market broke down the rest of the session to the low at 92.575. A small bounce at the close saw it settle at 92.90. The bullish patterns (Morning-star and …
Dec Cattle Commentary
Dec live cattle futures finished up .100 today and closed at 150.675. The August cold storage report came out yesterday and although it showed total pounds of beef were down 1% since last month, year over year total pounds of beef were up 23%. The price reaction to this report was seen more in the feeder cattle market than the …
Livestock Report
Walsh Trading Daily Insights Commentary October Lean Hogs broke down early and tested support at 92.375, making the low at 92.125. Price recovered and rallied, making the high by late morning at 95.00. This couldn’t quite challenge resistance at 95.30 and it pulled back, settling at 93.975. The price action gives us 2 bullish patterns with Monday’s trade. A Morning-star …
Dec Cattle — Post Cattle on Feed
The December live cattle contract traded slightly lower today after the Cattle on Feed numbers came out after the close on Friday. The market reacted to those numbers in a relatively correlated action with the CoF numbers coming in slightly bearish overall. The Dec contract settled at 150.525 today on higher volume than Friday. The trend was broken with today’s …
Cattle on Feed commentary
The cattle on feed report came out today and read as follows: Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.2 million head on August 1, 2022. The inventory was 1 percent above August 1, 2021. This is the second highest August 1 inventory since the series began …
Pure Hedge–Cattle
PURE HEDGE CATTLE In my opinion, the medium to long term outlook for the cattle market is still bullish. In review of the daily charts, I would suggest this recent move upward, caused by a lack of production into the 4th and 1st quarter. December Live cattle futures rallied this week making puts on all contracts cheaper for downside risk. …
Pure Hedge Grains
MACRO OUTLOOK: In my opinion, the medium to long term outlook for Wheat is bearish. In review of the daily charts, I would suggest this recent move upward, caused by a sudden appearance of heat and dryness, will run out of momentum and turn to the downside again. There is a steady flow of ships leaving port in Ukraine. Once we …
General Market Commentary
MACRO MOVES STOCKS (futures) – The S & P, and the Dow are up approx 10% from the recent lows. This is optimism based on the moderation in inflation. The moderation again is coming at 40 year highs in inflation. The pundits are predicting that the interest rates will be lowered next year. The probability is that the Fed will raise …