Livestock Markets slightly lower to End Year on a Weak Note

Ben DiCostanzo General Commentary

February Lean Hogs in a quiet holiday inspired trade, opened higher and traded to the high of the day at 69.075. It reversed and broke down to the low of the day at 67.65. It consolidated the rest of the session and settled at 67.975. The break down took price below support at 67.80 with settlement just above it. This …

Pure Hedge – Livestock and Grain

Bill Allen General Commentary

12/29/23 The Livestock and Grain Markets all closed lower today, the last trading day of the year. February’24 Live Cattle was 0.425 lower today and settled at 168.500. Today’s settlement price was just above today’s low of 168.350. The 1-month and 52-week low is 162.400. Since 11/29 February’24 Live Cattle is down 4.450 or just above 2 ½%. The Feeders …

Hogs Fall

Ben DiCostanzo General Commentary

February Lean Hogs opened lower and rallied to the high of the day at 70.475. The high was right at resistance of the 38.2% retracement of the September 28th high at 78.70 and the October 20th low at 65.40. It broke down from here and traded to the low at 68.025. It settled near the low at 68.45. The low …

Pure Hedge – Livestock and Grain

Bill Allen General Commentary

12/27/23 That was a long trading day, without too much excitement. The Livestock and Grain markets were all mixed today. February’24 Live Cattle was 1.125 lower today and settled at 169.275. Since 11/27 February’24 Live Cattle is up 0.425 or ¼ of a %. The Feeders had a small gain today. March’24 Feeder Cattle gained 0.825 and settled at 225.400. …

Grain Spreads: Potential for Short Covering?

Sean Lusk General Commentary

Commentary The bull camp in corn got some encouraging news in my opinion as US border patrol opened the two railway crossings into Mexico. The closures backed up train cars in 6 states. The backlog should clear up quickly per the railroad execs. US corn origin continues to hold the better position on the world stage in corn offers versus …

Hogs Break Down in a Light Trade

Ben DiCostanzo General Commentary

February Lean Hogs opened lower and continued working its way lower all session to the low at 69.025. The high was the opening price at 70.90. It settled near the low at 69.30. Traders looked at the Hogs and Pigs report with a bearish lens and took price lower. The volume was light, but the breakdown broke through support and …

Pure Hedge – Livestock and Grain

Bill Allen General Commentary

12/26/23 The Cattle and Grain Markets all closed higher today, but it was on lite volume. The Cattle markets opened lower this morning, but quietly climbed out of the red and posted gains today. February’24 Live Cattle gained 1.875 today and settled at 170.400. The Feeders also gained today and traded 0.175 higher in March’24 and settled at 224.575. February’24 …

Pure Hedge – Grain

Bill Allen General Commentary

12/22/23 I think the Soybeans will continue to break next week as well. Today March ‘24 Soybeans gained 4 ½ cents and settled at 1306 ¼. Today’s low of 1298 ¼ is also the 1-month low. Since 1½2 March’24 Soybeans are down 68 cents or almost 5%, and I don’t think they are done breaking yet. March’24 Corn was ½ …

Pure Hedge – Livestock

Bill Allen General Commentary

12/22/23 I believe the Cattle Markets are in trouble…Today February’24 Live Cattle was down 0.150 and settled at 168.525, above today’s low of 167.850. Since 1½2 February’24 Live Cattle are down 6.750 or almost 4%. The Feeders posted a gain today. March’24 Feeder Cattle was 1.025 higher today and settled at 224.400, in the middle of today’s range. Since 1½2 …