Commentary The bear camp continues to have a stranglehold on the soybean market as prices extend last week’s break. March soybeans fell 10 3/4 cents to $12.45 1/2 but closed well off session lows. March soymeal dropped 90 cents to $368.5 after making a three-month low early in the session. March soy oil rallied 18 points to 47.81 cents, despite making …
Pure Hedge – Livestock
1/5/24 The Cattle and Soybean Markets continued to slide lower today. February’24 Live Cattle was 0.550 lower today and settled at 170.575, just above today’s low of 170.100. The 1-month and 52-week low is 162.400. Since 12/5 February’24 Live Cattle are up 1.400 or almost 1%. The Feeders also slid lower today. March’24 Feeder Cattle were down 1.500 today and …
Pure Hedge – Grain
1/5/24 The Cattle and Soybean Markets continued to slide lower today. February’24 Live Cattle was 0.550 lower today and settled at 170.575, just above today’s low of 170.100. The 1-month and 52-week low is 162.400. Since 12/5 February’24 Live Cattle are up 1.400 or almost 1%. The Feeders also slid lower today. March’24 Feeder Cattle were down 1.500 today and …
Hogs Strong while Cattle Markets Weaken
February Lean Hogs opened lower and broke down to the low of the day at 68.00. It reversed and rallied to the high of the day at 70.50. It consolidated the rest of the session and settled near the high at 70.00. The opening breakdown tested support at the declining 8-DMA now at 68.20. The rally took price past strong …
Grain Spreads: 3 Reasons for Wheat
Commentary Poor technical action that sent wheat futures to below 5 percent down for the year yesterday was short lived. Market reversed and finished 20 cents off of yesterday’s lows while today saw modest follow through up a few cents. The cause for the reversal in my view was first weather, second potential demand, and lastly geo-political news that was …
Hogs Surge – Limit Up!
February Lean Hogs surged on heavy volume, trading up to 69.05 and settling there. This was a limit up move erasing the January 2nd collapse in the Feb contract. It took out that high at 68.975, closing above it. The low was at 65.00. The rally took price up to resistance at the declining 21-DMA now at 69.05. Cutouts are …
Pure Hedge – Livestock and Grain
1/3/24 The Livestock and Grain Markets were mixed today, in a relatively unexciting trading day, compared to recent history. February’24 Live Cattle were 0.075 lower today and settled at 171.850, just below today’s high of 171.950. The 1-month high is just above that at 172.650. Since 12/1 February’24 Live Cattle are 2.800 higher, or over 1 ½%. The Feeders had …
Pure Hedge – Livestock and Grain
1/2/24 Well, the Soybean Market started the year lower, exactly how I thought it was going to… The Cattle Markets rallied to start the year, and I used that opportunity to structure downside Option Trades in March’24 Feeders. February’24 Live Cattle started the year with a solid gain of 3.425 and settled at 171.925. Today’s high of 172.650 is also …
Grain Spreads: Rain Makes Grain
Commentary It is my belief that as we enter into a new year with all eyes on Brazilian weather over this past weekend and for the next ten days. In my view it was the theme for the break in the soybeans and meal today. It was reported by crop scouts that weekend rainfall was highly variable with some of …