Lean Hog Commentary

Peter McGinnGeneral Commentary

Cash prices to rise seasonally and wholesale prices continue as well but in my opinion it is just moving a lot slower than expected. The latest quote for the CME index rose for last Friday 24 cents to $79.86. Pork cutouts slipped 8 cents to $88.72 after hitting a 2023 high on Monday at $88.80. Seasonally we are in a …

Livestock Repor

Ben DiCostanzoGeneral Commentary

Walsh Trading Daily Insights Commentary April Feeder Cattle opened lower at 197.475. This was the high of the day as price broke down and traded to the session low at 195.75. The low came in just before 10:30AM CDT and is just above support at 195.40. Bulls came back into the market and price rallied the rest of the session …

Livestock Report

Ben DiCostanzoGeneral Commentary

Walsh Trading Daily Insights Commentary April Lean Hogs opened lower at 85.00, which was the session low as price surged and traded to the session high at 87.50. This was completed by 9:45 AM CST and the market pulled back to test Thursday’s high and then raced back to the high at the end of the session and settled at …

Livestock Rep[ort

Ben DiCostanzoGeneral Commentary

Walsh Trading Daily Insights Commentary April Lean Hogs opened below our resistance levels, making the session low at 84.225 early in the trading session. With price unable to go lower, bulls took over and quickly took Hogs to the session high at 86.175. That’s it…  trade was over by 9:30 AM CST, as price consolidated the rest of the session …

Livestock Report

Ben DiCostanzoGeneral Commentary

Walsh Trading Daily Insights Commentary April Lean Hogs continued to frustrate bulls, opening higher and then reversing course and making a new low for the down move at 83.20. This is just below support at 83.325 and this time bulls weren’t denied, taking price back above the key level and rallying the rest of the session to the high at …

Grain Spreads: Meal Opportunity

Sean LuskGeneral Commentary

Commentary May soybeans saw corrective selling today before closing at $15.15, down 13 cents on the day. May soybean meal saw losses of $5.60 and closed at $487.80. May soy oil saw selling alongside crude oil, closing 179 points lower at 58.66 cents. Soybeans saw losses amid profit-taking after the recent four-day rally and ahead of tomorrow’s WASDE report. It was …

Livestock Report

Ben DiCostanzoGeneral Commentary

Walsh Trading Daily Insights Commentary April Lean Hogs continued its disappointing performance, opening lower and rallying to the high at 84.975 then trading down the rest of the session to 83.30. It settled near the low at 83.475. This is a new low for the down move as the opening rally was handcuffed and by the confluence of resistance levels …

Grain Spreads: Corn Demand Examined

Sean LuskGeneral Commentary

Commentary Corn failed to turn positive despite strengthening crude oil futures, two daily export sales and notable export inspections for the week ended March 2nd. In my opinion the trade is pricing in a positive outcome around the Black Sea grain agreement but is likely taking a risk-off position ahead of the deal’s expiration (March 19th) along with USDA’s supply …

Cattle Commentary

Peter McGinnGeneral Commentary

Very solid cash market fundamentals and a fully bullish technical posture are fueling the live and feeder cattle futures markets bulls, with no early clues of market tops being close at hand. Cash cattle trade last week averaged $165.02, up $1.30. We look for steady to higher cash cattle trade this week. Packers are in chase mode as cattle marketings …

Livestock Report

Ben DiCostanzoGeneral Commentary

Walsh Trading Daily Insights Commentary April Feeder Cattle surged early in the trading session, making the low on the open at 193.725 and blasting off to the high at 196.175 by 9:30 AM CST. It was all over, and price drifted the rest of the session near the high and settled at 196.025. The rally occurred even as corn prices …