Walsh Trading Daily Insights Commentary June Lean Hogs opened lower and rallied to the session high at 91.575. The market reversed course and took out the previous 2 inside candle lows and then broke down below support at 90.40 and the declining 200-DMA now at 90.35 and traded down to the Friday low and then to a new low since …
Livestock Report
Walsh Trading Daily Insights Commentary June Lean Hogs opened higher and challenged resistance at 92.375, trading to the session high at 92.775. It quickly turned lower and by mid-morning was at the session low at 90.975. It consolidated in the middle of the range for the rest of the day and settled in the lower end of the range at …
Grain Spreads: Corn Demand
Commentary The USDA announced a flash sale announcement yet again into China for US corn. Todays purchased marks China’s its fifth daily purchase in the past six sessions. Today’s sale was light, this just 136k tonnes, or 5.35 million bushels. That brings the cumulative sales over that span to 88.5 million bushels, which will start to show up officially on …
Livestock Report
Walsh Trading Daily Insights Commentary June Lean Hogs is now the lead contract as its volume has exceeded the volume of the April contract. It opened lower and traded to the session low at 90.80. It turned up and traded to the session high at 92.95. It couldn’t handle the success and pulled back, settling in the middle of the …
Livestock Report
Walsh Trading Daily Insights Commentary April Feeder Cattle was in limbo on Friday, just drifting within Thursday’s trading range as it waited for the cattle on feed report. The high was at 195.125 and the low at 193.775 with settlement at 194.65. The low was just below the rising 21-DMA now at 194.025 and the high was below resistance at …
Grain Spreads: KC Wheat Tests Resistance
Commentary There is increased chatter and noise regarding the health of the winter wheat crop, Specifically the hard red winter wheat or KC Crop. Most weather forecasts imply little hope for a significant spring improvement in the KC crop. Several signs point to conditions likely to be at or near record lows when USDA publishes its first Crop Progress Report …
Lean Hog Commentary
Hog markets again sold off sharply with the June contract going limit down and the April contract settling $4.30 lower at 79.450. Hog supplies are proving a bit larger than year-ago levels, the opposite of what was implied from the USDA expected, falling 2% below last year. On the other hand, this morning’s weekly export sales report indicated last week’s …
Livestock Report
Walsh Trading Daily Insights Commentary April Feeder Cattle gap opened lower, closed the gap at the session high at 195.475 and the broke down the rest of the session to the low at 192.65. It bounced at the end of the session to settle at 193.25. Outside market worries the lead cause of the decline as crashing equities and crude …
Lean Hog Commentary
Brutal day for most of the commodity markets across the board but Lean Hogs specifically saw steep declines today, particularly in the June contract falling 3.3% Settling below 100 at 98.225. A rising dollar and a very volatile, shaky stock market gave sellers more reason to add to the selling pressure and discouraged any buying participants from entering. The cash …
Grain Spreads: Corn Bottom?
Commentary It is my belief that Corn rallied today following the announcement of a flash export sale to China in the amount of 612K metric tonnes. This the largest flash corn sale to China since last April. This purchase may coincide with recent US corn values that are the cheapest in the Western Hemisphere currently, a recent change and the …