Live cattle futures bounced today as feeders sharply declined on breaking news of Polish missile strikes from the Russians sent the grain markets higher. February live cattle settled at 153.05, a change of .50 cents higher on the day while the March feeders declined $1.975, settling below $180 for the first time since mid-October. The volume for today’s trade in …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs continued its lack luster trading, making the low early in the trading session at 84.35, rallying to the high at 85.95 and then consolidating the rest of the session, settling at 84.875. The early low tested support at the 50DMA at 84.575 and the high tested resistance at the 21-DMA at 85.825. …
Cattle Commentary
Live cattle markets were lower on the session today with the February contract down .700 cents, settling at 152.55. Beef demand is holding steady as the all-fresh retail beef price in October was $7.25/lb., down slightly from $7.32/lb. in September and down 4.0 percent from the record high of $7.55/lb. one year ago. In 2022, the all-fresh retail beef price …
Hog Commentary
February lean hogs settled lower on the session at 88.40, a change of .425. Chart patterns seem to be showing that the market is in a consolidation period right now and could see a re-test of the highs in the market from late October. The price action on the day is reflected an outside down day, which is a bearish …
Grain Spreads: Corn Potential
Commentary Nearby Corn futures posted a fourth consecutive lower weekly close and appear to have more near-term downside risk as prices threaten to fall through the bottom of the sideways range, we have witnessed for the last two months. Despite a slightly stronger demand outlook for corn in 2022- 23, USDA’s higher-than-expected production and yield figures add to other bearish …
PURE HEDGE CATTLE 11/11
PURE HEDGE CATTLE In my opinion, the medium to short term outlook on the cattle market looks to be neutral to bullish. The recent USDA WASDE report is expecting higher beef prices for 2022 and ’23 due to stronger than expected demand. I’ve been hearing from producers that they are expecting a higher number of total placed cattle for the …
Hog Commentary
Hog futures were higher today in the deferred months but settled lower today in the December with a price of 85.65. There was the possibility today that the market could’ve seen follow through selling pressure from Yesterday’s session due to a continued slump in the cash market and also a seasonal rise in slaughter numbers. The CME lean hog index …
Livestock Report
Walsh Trading Daily Insights Commentary January Feeder Cattle continued its consolidation, staying within Friday’s candle as corn weakness did little to help support Feeder Cattle. Tuesday’s range was 180.225 high to 178.925 low. Settlement was at 179.90. Price has traded in a narrow range for the past 5 sessions, locked between resistance at 180.80 and support at 178.95. Moving averages …
Livestock Report
Walsh Trading Daily Insights Commentary January Feeder Cattle eked out a small gain as it consolidated withing Friday’s trading range forming an inside candlestick. The Monday low was at 178.825, which is just below support at 178.95 and the high just above resistance at the 13-DMA (180.05) at 180.175. Settlement was just below the 13-DMA at 179.925. Price has traded …
Grain Spreads: WASDE Report Outlook
Commentary The average trade guesses for Wednesday’s November USDA Supply and Demand Report show the trade keeping corn and soybean yields unchanged at 171.9 and 49.8 bushels per acre, respectively. Analysts put ending stocks slightly higher compared to October as many expect export estimate reductions after a weak start to the 2022/23 exporting campaign. The average trade guess for ending …