Walsh Trading Daily Insights Commentary April Feeder Cattle made a new high since taking over as the lead contract and was able to hold onto the gain. It traded up to 195.45 with the low at 193.95 and settlement at 195.075. The high was just above resistance at 195.45 as Corn was weak all session, tumbling below support which helped …
Livestock Report
Walsh Trading Daily Insights Commentary April Feeder Cattle is now the lead contract as its volume has exceeded the volume of the March contract. April opened higher and traded down to the session low at 193.10. Bulls came into the market and took price up to the session high at 195.25. The market pulled back and settled in the middle …
Livestock Report
Walsh Trading Daily Insights Commentary April Lean Hogs gap opened higher, pulled back to close the gap, recovered and traded to the session high at 87.30. The high is just above the key level at 87.10 and price didn’t stay up here long, pulling back and then making one more attempt to rally that failed. It traded down to the …
Cattle Commentary
Expiring February live cattle futures ended the week at $165.20, up 5 cents. Still, that marks a weekly advance of $1.625. Most active April cattle also rose 5 cents to $165.375, ending the week 72.5 cents above last Friday’s close. March feeder futures skidded 15 cents to $189.075, thereby marking a weekly rise of $2.55. Winter storms this week didn’t …
PURE HEDGE
CATTLE Expiring February live cattle futures ended the week at $165.20, up 5 cents. Still, that marks a weekly advance of $1.625. Most active April cattle also rose 5 cents to $165.375, ending the week 72.5 cents above last Friday’s close. March feeder futures slid 15 cents to $189.075, thereby marking a weekly rise of $2.55.The USDA Cattle on Feed …
Cattle Commentary
Live cattle contracts finished higher today but little change from Wednesday with just a little more cash trades yesterday moving the 5 area weighted average down to 162.37, which is up $1.66 from the figure a week ago. Choice cutout rose ‘just’ 63 cents to $288.54, whereas the select average surged another $2.84 to $276.48. The relatively narrow Choice-Select spread, …
Livestock Report
Walsh Trading Daily Insights Commentary April Lean Hogs pulled back hard from Tuesday’s surge. The cutout report Tuesday afternoon broke down from the Monday high, with the Belly falling below Friday’s and Monday’s advance. This afternoon was no different with Bellies dropping some more, after moving higher in the morning. It looks like on Monday (at least in my neighbor …
Commentary: Corn’s Balance Sheet
The USDA’s Ag Forum starts tomorrow, and the trade is prepared to receive the government’s best unsurveyed guess of acreage and yield for the coming year in the US. The average trade guesstimate puts the acreage at 90.9 million corn acres and a yield of 179.7 bushels/acre. 90.9 million acres would be a buying of 2.3 million acres versus last …
Livestock Report
Walsh Trading Daily Insights Commentary April Lean Hogs opened higher and surged. The low was the opening price at 86.25 and by 10 AM the high was in at 89.875. It pulled back to test support at 88.325 and drifted the rest of the session, settling at 89.10. It was a break out session for Hogs that has been sitting …
Cattle Commentary
Cattle futures traded higher today with the April contract settling at 165.10, much of the move was off of last week’s cash movement with an average of $1.55 higher from the 5-area average. The April futures contract ended the day just 35 cents over February, showing the industry remains quite skeptical of the cash market’s ability to sustain the advance …