Pure Hedge – Livestock and Grain

Bill AllenGeneral Commentary

7/15/24 The Livestock Markets were mixed today, without much price action. It was a weak attempt to break the Fats today. August’24 Live Cattle were 25 cents lower today and settled at 182.12 ½. Today’s high was 183.37 ½ and the 1-month high is 188.25. Today’s low was 181.85 and the 1-month low is 180.35. Since 6/14 August’24 Live Cattle …

Pure Hedge – Livestock and Grain

Bill AllenGeneral Commentary

7/12/24 August’24 Live Cattle were 12 ½ cents higher today and settled at 182.37 ½. Today’s high was 183.05 and the 1-month high is 188.25. Today’s low was 181.05 and the 1-month low is 176.85. Since 6/12 August’24 Live Cattle are 4.22 ½ higher or close to 4 ½%. The Feeders looked good. August’24 Feeder Cattle were 2.50 higher today …

Walsh Gamma Trader

Bill AllenGeneral Commentary

7/12/24 COMMODITY BUY/SELL COST PER CONTRACT EXPIRATION GRAINS SEP’24 SOYBEAN MEAL BUY 300P 2.55 or $255.00/Contract 42 Days – 8/23/24 MAY’25 CORN BUY 700C 1 1/4 or $62.50/Contract 287 Days – 4/25/25 JAN’25 SOYBEANS BUY 900P 2 3/4 or $137.50/Contract 168 Days – 12/27/24 MAR’25 WHEAT BUY 500P 8 1/4 or $412.50/Contract 224 Days – 2/21/25 LIVESTOCK APR’25 LIVE CATTLE …

Livestock Markets End Week on a Positive Note

Ben DiCostanzoGeneral Commentary

August Lean Hogs opened higher and rallied all session to the high at 89.35. The low was 87.225 which occurred in the opening couple of minutes and was just above the key level at 87.10. It dipped at the end of the day to settle at 88.45.The rally was follow-through to the upside after Thursday’s bullish Piercing candlestick formation. It …

Grain Spreads: Bullish Surprise for Corn

Sean LuskGeneral Commentary

Commentary December 24 corn prices have been clobbered since Memorial Day weekend due to mostly perfect weather in the Midwest. Funds are record short at 360K futures and options. Condition ratings are 13 percentage points higher than this time last year. Despite the ridiculous June 28th acreage report that showed one million more acres than previously thought that didn’t taken …

Hogs Bounce Back

Ben DiCostanzoGeneral Commentary

August Lean Hogs gap opened lower, making a new lowfor the down move at 83.675. The breakdown tested support at the rising 200-DMAnow at 83.975 and it held as the market rallied almost 4-handles off the low tothe high at 87.625. The rally was finished by 10:00 AM CDT, drifting the restof the session to settle at 86.675. The rally …

Pure Hedge – Livestock and Grain

Bill AllenGeneral Commentary

7/10/24   Well, it looks like the slide lower has begun… August’24 Live Cattle were 10 cents lower today and settled at 182.25. Today’s high was 182.77 ½ and the 1-month high is 188.25. Today’s low was 181.37 ½ and the 1-month low is 176.85. Since 6/10 August’24 Live Cattle are 2.27 ½ higher or more than 1%. The Feeders …

Grain Spreads: Funds Record Short

Sean LuskGeneral Commentary

Commentary Funds are record short corn. It is the second record short for managed money so far in 2024. The first record at the end of February put managed funds at a 340K contract short and a low of 4.08 on the Board. After today’s close, its estimated that the funds are short 363K. Could they add more? Sure, why …

Grain Spreads: Cooler and Wetter Forecast Pressures

Sean LuskGeneral Commentary

Cooler and wetter forecasts into Mid July sent corn and beans significantly lower as both markets made new lows today. Condition ratings for both crops improved by 1 point in the good to excellent category, while new crop demand remains non-existent.  Last week’s relief rally in beans that sent November futures to 11.30 looks like a great selling opportunity. Right …

Cattle Markets Fall to Start Week on Weakness

Ben DiCostanzoGeneral Commentary

August Feeder Cattle opened higher, rallied to the high of the day at 263.275 and then fell apart. It broke down the rest of the session to the low at 258.525. It settled near the low at 259.175. The breakdown took price below support at the rising 21-DMA now at 259.025 but, it was able to settle above it. With …