Post Archive by Month

Walsh Trading Daily Insights Commentary August Feeder Cattle made a new high on Friday, reaching 232.225 and then pulling back the rest of the session to the low at 230.225 and settling near the low at 230.725. There likely was some profit taking place as we came to the end of the week and especially the month. Settlement was below …

Commentary All wheat classes broke today on 3 different fronts in my opinion. First, Canadian farmers intend to plant 27.0 million acres to wheat in 2023, up 1.58 million acres (6.2%) from last year, according to Statistics Canada (StatCan). Spring wheat area (+7.5% to 19.4 million acres), durum wheat area (+0.9% to 6.1 million acres) and winter wheat area (+12.7% …

Walsh Trading Daily Insights Commentary August Feeder Cattle stayed in neutral, making the high at 230.05 and the low at 228.675. It settled at 229.50. It poked its nose above resistance at 229.825 and settled just below it, staying in the upper end of its 3-Day trading range of 230.275 – 227.725. So far, it has been able to maintain …

August Feeder Cattle gap opened lower and traded to the session low at 227.725. This was just below support at 227.80 and it held back the selling. Price reversed and rallied the rest of the session to the high at 229.725. This was just under resistance at 229.825 and it dipped and settled at 229.325. The weaker open came about …

Commentary Old crop soybeans are starting to move lower on two fronts. Late last week it was reported that at least two cargoes of Brazilian beans have been sold into the US market. Despite old crop maintaining a significant inversion to new crop contracts, Brazil origin is trading at a $2 per bushel discount to the US market. It is …

Walsh Trading Daily Insights Commentary May Feeder Cattle opened unchanged and traded to the session low at 205.25. It reversed course and traded higher the rest of the session to the high at 207.95. The rally and settlement price took price past resistance at 207.50 and approached resistance at 208.50. Continued enthusiasm in the cattle markets for higher cash prices …

Walsh Trading Daily Insights Commentary May Feeder Cattle opened higher and traded to the session low at 203.75. It turned around and grinded higher the rest of the session to the high at 205.95. It settled near the high at 205.625. The opening decline closed some of the gap created from the Wednesday high at 203.30 to the Thursday low …

Commentary The winter break saw national winter wheat condition ratings fall by six points, from 34% to 28% good/excellent.  The numbers match the five-year average winter decline, and it does leave ratings only two points behind last year, but that’s still the lowest initial spring figure since 1996 (and only a point off that record low). Major producer Kansas fell …

CATTLE Cattle prices this week rallied sharply ending the week up 1.62% after all contracts gapping higher today due to cash market trades. According to CattleFax, Wednesday, April 5, 2023 Light fed cattle cash trade occurred in the North at mostly $174 live and $272 to $275 dressed, which is mostly steady to $2 higher than last week. Light volumes …

Walsh Trading Daily Insights Commentary June Lean Hogs gap opened lower, broke down to the session low at 87.40 and then rebounded, racing to the high at 89.35, closing the gap and then floundering the rest of the session, settling in the middle of the range at 88.375. The breakdown took price to a new low for the June contract …