1/24/24 The Livestock and Grain Markets all closed positive today. April’24 Live Cattle gained 0.525 today and settled at 178.350, just below today’s high of 178.425, which is also the 1-month high. Today’s low was 177.450 and the 1-month low is 171.075. Since 12/22 April’24 Live Cattle are up 6.250 or more than 3 ½%. The Feeders had a small …
Grain Spreads: Jumping Beans
Commentary Near term longs in beans have been rewarded for now as the market is up over 25 cents to start the week. Funds began the week with their most bearish position since early 2020, short over 80K futures and options contracts. As Argentina has wrapped up planting, weather runs turn dry as weather forecasters have said El Nino has …
Hogs Drift Lower
April Lean Hogs is now the lead contract as its volume has exceeded the volume of the February contract. It opened higher, made the session high at 78.55 and broke down to the low at 77.225. The market sat on its hands the rest of the session and settled at 77.625. The breakdown took price below support at 77.80. It …
Pure Hedge – Livestock and Grain
1/22/24 The Livestock Markets were all lower today and the Grains ended the day higher. April’24 Live Cattle was 0.475 lower today and settled at 176.900, just below today’s high of 177.350. Today’s high was just short of the 1-month high of 177.975. The 1-month low is 171.075. Since 12/22 April’24 Live Cattle is 4.775 higher or almost 3%. The …
WALSH GAMMA TRADER
1/23/24 COMMODITY BUY/SELL COST PER CONTRACT EXPIRATION GRAINS SEP’24 SOYBEAN MEAL BUY 250P 0.65 or $65.00/Contract 213 Days – 8/23/24 JUL’24 CORN BUY 370P 1 1/4 or $62.50/Contract 150 Days – 6/21/24 AUG’24 SOYBEANS BUY 900P 1 1/8 or $56.25/Contract 185 Days – 7/26/24 JULY’24 WHEAT BUY 400P 3/8 or $18.75/Contract 150 Days – 6/21/24 LIVESTOCK AUG’24 LIVE CATTLE BUY …
Pure Hedge – Livestock
1/19/24 The Livestock markets all closed lower today. April’24 Live Cattle was stuck in dollar range today, waiting for the Cattle on Feed Report. April’24 Live Cattle was 0.275 lower today and settled at 177.375, in the middle of today’s range. The high today of 177.875 was just below the 1-month high of 177.975. The 1-month low is 171.075. Since …
Pure Hedge – Grain
1/19/24 The Grains were mixed today. March’24 Soybeans had a 17 ¾ cent range today and settled down ¼ of a cent at 1213 ¼, not far from today’s low of 1210 ¾. The 1-month high is 1328 ¼ if you can believe that. The 1-month low is close at 1201. I noticed today that the 52-week low is 1154 …
Cattle Markets Consolidate in Front of Cattle on Feed
March Feeder Cattle consolidated within the Thursday range as traders awaited the looming Cattle on feed Report due out after the close. The Friday high came in at 233.35, the low at 231.525 and settlement was at 231.95. Thursday’s breakout rally took price past the 38.2% retracement (230.35) of the all-time high at 264.675 to the 209.15 low from December …
Grain Spreads: Dec 24/25 Corn
Commentary Export sales were a bright spot for the corn market today with stronger than anticipated commitments reported by the US government. The USDA noted 1.2 million metric tons of corn sales of which half went to Mexico. However, Corn near term is plagued in my opinion on a few issues. First, last Friday’s crop report was a bearish surprise. …
Cattle Markets Surge
March Feeder Cattle opened lower and made the low of the day at 229.475. Price surged off the low, trading up to 233.45 for the high of the day. This all took place in the first 45 minutes of the session. Price had a pullback to 231.775 and then drifted the rest of the session to settle near the high …