SOYBEAN HEDGE OPPORTUNITIESPRODUCERS MONTH STRIKE PRICE PREMIUM COST NOV ‘22 1300 .875 $43.75 1280 .500 $25 1260 .375 $18.75 JAN ’23 1160 2.00 $100 MAR ’23 1100 2.625 $131.25 JUL ’23 1000 3.125 $156.25 END USERS MONTH STRIKE PRICE PREMIUM COST NOV ’22 1660 .125 $6.25 1700 .125 $6.25 1760 .125 $6.25 JAN ’23 1800 1.000 $50 MAR …
Pure Hedge– Cattle
In my opinion, the medium to short term outlook on the cattle market looks to neutral. The cattle market looks to be consolidating here as demand is weak in the near term but supply concerns for the 1st quarter are keeping the market from completely bottoming out In order to take full advantage of price discovery, we must keep an …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs made another new high for the fledging up move at 80.825. The low was 79.20. It settled at 80.70. The cash market continues to firm and December is ever closer to becoming the spot contract as well as the lead contract based on volume. It is well below the index and we …
Grain Spreads: Bean Surprise
Commentary The biggest surprise in my view in today’s WASDE report from USDA in my opinion was a drop in the U.S. soybean yield to 49.8 bushels per acre, which was at the low end of the range of trade guesses. A sub 50 yield had the algos buying with both hands, but trendline resistance at 14.15 held today, with …
Cattle Commentary WASDE
Cattle prices were mixed on today’s trade with Feeder contracts settling close to 50 cents higher and Live contracts settling just about 25 to 50 cents higher. Early morning trade was higher before the USDA WASDE report came out which showed that beef is raised for the second half with higher expected slaughter numbers as well as higher carcass weights …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs made a new high for the fledging up move at 79.95. The high was just above resistance at 79.80 and the market couldn’t handle the success. It pulled back from the early high to test support at 78.80, making the low just below it at 78.675. It rallied the rest of the …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs had a strong open and never looked back. It opened above resistance at 77.80, making the low just above it at 77.90 and rallying to the session high at 79.875. The high was just above resistance at 79.80 and the market pulled back, consolidating and then settling just below resistance at 79.60. …
Cattle Commentary 10-10
Cattle markets were down today with feeders down $2.75 in the November contract and down a $1 in the Feb Live contract. Last week packers purchased 99,000 at $1.45 from the prior week, which is the highest it’s been since August. Feeder cattle hit a new low today with managed fund shorts having the largest short position in 3 years. …
Livestock Report
Walsh Trading Daily Insights Commentary November Feeder Cattle opened higher and made its way to the high at 176.75. This is right at resistance at the 13-DMA. This proved to be too much for bulls and the market leaked lower to the low at 175.35. It settled nearby at 175.625. Feeder Cattle is in a trading range from 178.35 to …
Hog Commentary
December hogs traded on lower volume today but did fill the gap that was made from yesterday’s open. With the concerns about reduced exports for US pork were certainly justified earlier this year but shipments showed a surge since mid-August. This could be due to the sustained strength of the Mexican peso, given the country’s strong demand for US hams. …