June Lean Hogs is now the lead contract as its volume has overtaken the volume for the April contract. The June contract continued its plunge since becoming the lead contract, breaking down to 98.80 and settling lower on the day at 99.30. The high was at 100.95. Since June has become the lead, traders have been stripping some of the …
Pure Hedge – Livestock and Grain
3/20/24 UPDATED The Livestock Market were all lower today, along with the Corn and Wheat Markets, but the Soybeans shot higher. Hopefully the Beans continue to climb before Planting intentions are released. Today April’24 Live Cattle were 25 cents lower and settled at 187.80, just above today’s low of 187.40. The 1-month low is 184.47 ½. Today’s high was 188.57 …
Grain Spreads: Tariffs on Wheat
Commentary Wheat prices are finally finding some support on colder temps in the plains while the aggressive attacks by Russia and Ukraine against each other have given the edge to the bull camp so far this week. The bigger news overnight was the EU announcing it was crafting some sort of tariff against Russian grain imports, and possibly against oilseed …
Are Feedlots Current?
April Feeder Cattle opened higher at the low of the day (252.375). The low was just above the key level at 252.35 and the breakout saw price rally the rest of the session to the high at 255.25. It settled near the high at 255.10. The rally took price above resistance at 254.30 and climbed above resistance at the 21-DMA …
Pure Hedge – Livestock and Grain
3/18/24 The Cattle and Wheat Markets had positive moves today, but how long can it last? April’24 Live Cattle were 1.325 higher today and settled at 188.575, just below today’s high of 188.750. The 1-month high is 190.275. Today’s low was 187.200 and the 1-month low is 184.475. Since 2/18 April’24 Live Cattle are 1.025 higher or just over ½%. …
Hogs End Week Strong
April Lean Hogs broke out of its recent consolidation band on Friday, trading up to 87.525 and then pulling back to settle at 86.925. It made the low early in the session at 84.95. The rally took price just past resistance at 87.10 which held as settlement was below it. This gives bearish traders some hope and forces bulls to …
Pure Hedge – Livestock
3/15/24 The Livestock Markets were all higher today, and the Grains were mixed. April’24 Live Cattle were 30 cents higher today and settled at 187.25, in the middle of today’s range. Today’s high was 188.425 and the 1-month high is 190.275. Today’s low was 186.650 and the 1-month low is 184.475. Since 2/15 April’24 Live Cattle are 1.625 higher or …
Pure Hedge – Grain
3/15/24 The Livestock Markets were all higher today, and the Grains were mixed. April’24 Live Cattle were 30 cents higher today and settled at 187.25, in the middle of today’s range. Today’s high was 188.425 and the 1-month high is 190.275. Today’s low was 186.650 and the 1-month low is 184.475. Since 2/15 April’24 Live Cattle are 1.625 higher or …
Grain Spreads: Three Days of Selling
Commentary Following a Monday potential upside reversal in wheat that took out two previous session highs, wheat did an about face on Wednesday and didn’t look back. It is my belief that wheat fell again this week on three fronts. First and foremost, Russia is again flooding the global wheat market as Russian export prices for 12.5% protein fell below …
Walsh Gamma Trader
3/15/24 COMMODITY BUY/SELL COST PER CONTRACT EXPIRATION GRAINS SEP’24 SOYBEAN MEAL BUY 270P 1.20 or $120.00/Contract 161 Days – 8/23/24 JUL’24 CORN BUY 380P 2 1/8 or $106.25/Contract 98 Days – 6/21/24 AUG’24 SOYBEANS BUY 960P 1 3/4 or $87.50/Contract 133 Days – 7/26/24 JULY’24 WHEAT BUY 430P 2 5/8 or $131.25/Contract 98 Days – 6/21/24 LIVESTOCK AUG’24 LIVE CATTLE …