Cash Market Strength drives Hogs

Ben DiCostanzo General Commentary

October Lean Hogs made an impressive run after opening weak and trading down to support at 83.325. It broke out of its trading range, closing strongly above resistance. It opened lower, trading below support to the low at 83.075 and then reversing course and rallying the rest of the session to the high at 86.25. The rally took price above …

Markets End Week on a Positive Note

Ben DiCostanzo General Commentary

Walsh Trading Daily Insights Commentary October Lean Hogs made up some ground on the Lean Hog Index on Friday, making the low at 83.65 and rallying to the high at 85.30. It settled near the high at 85.025. October Hogs have been trading at a greater than normal discount to the Lean Hog Index (just like last year) as traders …

Grain Spreads: New Front Opens in War

Sean Lusk General Commentary

Commentary Grain prices exploded overnight in both Europe and the U.S., highlighted by September wheat hitting limit up today while December 23 corn hitting its highest level in almost a month. Russian attacks expanded to the Danube River this morning, the key point in Ukraine’s campaign to replace the majority of its Black Sea exports via river and overland routes. …

Placements up3%, Expectations were for a decline

Ben DiCostanzo General Commentary

October Live Cattle displayed weakness in front of the Cattle on Feed and Semi-Annual Cattle Inventory reports. It opened higher and made the high at 183.60, it then fell to the low at 181.525 and that was it. Trade was over by 9:30 CDT and price consolidated in the lower end of the range the rest of the session, settling …

Grain Spreads: Bombs Away

Sean Lusk General Commentary

Commentary   Russia continued their attacks on grain terminals and infrastructure across Ukraine for the 4th night in a row since declining to extend the Black Sea corridor deal last Sunday. There is hope by some officials that seem to be holding out hope for a resumption of the Black Sea export deal. That said, with major exporting hubs like …

Grain Spreads: War Premium

Sean Lusk General Commentary

Commentary Corn and wheat markets are sharply higher today as tensions in the Black Sea threaten grain export shipments.  According to Reuters, Russia said they would assume all ships traveling to Ukraine ports to be possible carriers of military cargo and their flag countries to be parties to the conflict on the Ukrainian side. Grain shippers are pulling out as they don’t …

Cattle Rallies While Corn Pulls Down Feeders

Ben DiCostanzo General Commentary

October Live Cattle rallied to a new all-time high as traders are hoping packers will be paying up in the cash market this week. Bullishness is running high with traders as they think packers need to purchase cattle to meet their order flow. The new high is at 183.75 and the new settlement high is at 183.55. Tuesday’s low came …

Cattle Waits For Cash To Develop

Ben DiCostanzo General Commentary

October Live Cattle is now the lead contract as its volume has overtaken the volume of the August contract. The switch to the October contract has put a new contract high in place as the October contract is trading at a premium over the August contract. The new high is at 183.35 and the new settlement high is at 182.25. …

Grain Spreads: Wheat Drama Ensues

Sean Lusk General Commentary

Commentary A volatile trading session was seen today in wheat as Russia officially terminated the Black Sea Grain Deal. The initial announcement overnight sent Chicago wheat over 20 cents higher, while KC and Minneapolis posted similar gains. However, markets sold off this morning after coming to the realization there will most likely be plenty of world wheat supplies.  Even with …

Cattle Markets Surge Testing Packers Mettle

Ben DiCostanzo General Commentary

August Live Cattle ended the week with a powerful surge, closing at a new all-time high for the lead contract at 180.175. After trading to an all-time high for the lead contract (181.175) on Wednesday and failing, creating a Bearish in the process, Thursday looked like there would be follow through to the downside. It traded down to 175.20 and …