5/6/25
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The Livestock Markets were mixed, with the Fats and Feeders making new contract highs again today. The Fats settled right in the middle of today’s trading range and were just able to stay positive on the day. June’25 Live Cattle were 2 ½ cents higher today and settled at 213.67 ½. Today’s high was 214.32 ½ and that is the new contract high as well. Today’s low was 213.00 and the 1-month low is 191.80. Since 4/4 June’25 Live Cattle are 15.47 ½ higher or almost 8%. The August’25 Feeders settled above 299.00 for the first time ever today. August’25 Feeder Cattle were 30 cents higher today and settled at 299.20. Today’s high was 299.90 and that is the new contract high as well. Today’s low was 297.62 ½ and the 1-month low is 273.35. Since 4/4 August’25 Feeder Cattle are 18.15 higher or almost 6 ½ %. The Hogs were kicked lower today. June’25 Hogs were 1.42 ½ lower today and settled at 97.57 ½. Today’s high was 98.47 ½ and the 1-month high is 101.97 ½. Today’s low was 97.05 and the 1-month low is 88.00. Since 4/4 June’25 Lean Hogs are 6.02 ½ higher or about 6 ½%. The Cattle Markets climbed higher again today and made new contract highs in the process. I have said before that I thought the Packers must be long futures for a long time. That is the only way they could continue to outbid themselves in the cash market. Yesterday, I heard a rumor that JBS is very long the Futures Market and could be attempting to hurt the competition. I am still looking for a pullback back in the market and feel that a 10% break in the market is reasonable. That would put the June’25 Fats at 192.31 ½. My target level is still 190, with the 50% Retracement from the 52-week high/low of 192.28, and the 1-month low of 191.80. The June’25 190 Puts settled at 85 cents today and are only $340.00. The August’25 Feeders made a new all-time high today but were not able to cross over the 300.00 level. I still like the 260-265 level in the August’25 Feeders with the 50% retracement from the 52-week high/low of 268.01. A 10% pullback in the August’25 Feeders would put the price at 269.28. The August’25 Feeder 265 Puts settled at 1.07 ½ today, and that is just $537.50. There is a 50-Year Feeder Cattle Chart below. The June’25 Hogs were knocked lower and did not look very good today. Maybe they are getting ready to break with the Cattle Markets. I still feel the Hogs can trade between the 1-month high of 101.97 ½ and the 50%retracement from the 52-week high/low of 96.05, unless the Cattle take a dive. If the June’25 Hogs traded 10% lower, it would put them at 87.79 ½. The 1-month low happens to be 88.00. The June’25 Hog 90 Puts settled at 30 cents today and are only $120.00. If you have any questions, just give me a call.
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I see two big trades for this year. I still like the Soybean Oil and the Natural Gas. These markets will correct. Take advantage of any pullbacks in these markets. NOW IS THE TIME TO OPEN AN ACCOUNT.
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The Grain Markets were mixed again today, with the Wheat leading the way higher. The Beans bounced off the lows again today and looked as though they are looking for a reason to rally, any reason, no matter how small. July’25 Soybeans were 4 ¼ cents lower today and settled at 1041 ¼. Today’s high was 1046 ¾ and the 1-month high is 1067 ½. Today’s low was 1036 ½ and the 1-month low is 985. Since 4/4 July’25 Soybeans are 48 ¼ cents higher or almost 5%. The Corn stayed positive today on a narrow trading range. July’25 Corn was 1 ¼ cents higher today and settled at 455 ½. Today’s high was 457 ¼ and the 1-month high is 497 ½. Today’s low was 452 ½ and that is the new contract low as well. Since 4/4 July’25 Corn is 11 ¾ cents lower or about 2 ½%. The Wheat Market gained about a nickel today. July’25 Wheat was 4 ¾ cents higher today and settled at 536. Today’s high was 538 ¾ and the 1-month high is 571. Today’s low was 528 ¼ and the 1-month low is 523 ¼. Since 4/4 July’25 Wheat is 6 ¾ cents lower or more than 1%. The slightest positive news could send the Grains flying high. The Corn, Beans, and Wheat are all positioned for a new rally, and all that is missing is a spark. I feel we could see a 50-cent rally from here in each of these markets as soon as 1 positive story emerges from the trade/tariff negotiations. Until then, I would continue to buy cheap Calls or Call Spreads. Today’s high in the July’25 Soybeans was just 2 cents from the 200-Day moving average of 1048 ¾. The Beans need to settle above there again to get some momentum back. The July’25 Beans settle just a penny below the 100-Day moving average of 1042 ¼ and getting back above that level would be a good start. I still like the July’25 Beans above 1100, with the 50%retracement from the 52-week high/low sitting at 1103 ¾. The July’25 Soybean 1100 Calls settled at 6 ½ cents today, or just $325.00. The Jusy’25 Corn made new contract lows today and settled 3 cents above the new low. Why not buy some Corn here and risk 5 ½ cents and see if the contract low and the 450 level can hold, in hope of positive trade deal news. I feel we can see the corn rally back up to 480 level in the July’25 contract on any positive news. The 100-Day moving average is 479 ¾ as well. The July’25 Corn 480 Calls settled at 6 ¼ cents today, or just $312.50. The July’25 Wheat looked good today and is now 12 ¾ cents above the contract low. I feel the Wheat can really run higher from here, and 570-580 is my first target higher. The 100-Day moving average is 568 ½ and the 1-month high is 571, with the 200-Day moving average just above at 584 ½. I still feel we could see the Wheat trade up 640, with the 50% retracement from the 52-week high/low of 639 ¼. The July’25 Wheat 600 Call settled at 4 ½ cents today, or only $225.00. I still like the Soybean Oil the most, even with the slide lower this week. I feel we can see an aggressive upswing in the Bean Oil soon than later, and that can help pull the Beans and Meal higher as well. The July’25 Soybean Oil settled at 48.35 today and I still feel we can see it trade over 60.00. The July’25 Bean Oil 55 Calls settled at 0.48 today. or just $288.00. All of the Options Trades above are also listed just below. Have a great night.
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I appreciate your business.
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CHEAP OPTION CALLS AND PUTS BELOW
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If you don’t like the customer service or personal attention you are receiving at your new and very large brokerage house, you have options, and you don’t have to stay there.
I can have your new account open in 1-2 days. Call me anytime 312-957-8079[email protected] Sign Up Now
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50-Year Cattle Chart Below. Whenever it Breaks it Will Be a Spectacular Collapse.
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August’25 Natural Gas 5-Year Chart Below.
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September’25 Soybean Oil 5-Year Chart Below.
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Thank you to all of my Canadian Customers. If you live in Alberta or Ontario, you are able to open an account in the USA. Hopefully we can work with the Province of Saskatchewan, and all Canandian Provinces soon. Your ability to open an account in the US is blocked by your Provincial Governments, not by the United States.
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Thank you to all of my old and new Customers. I appreciate your business. To those of you that are close to opening an account, please call me if you have any questions, and I look forward to working with you soon. To anyone thinking about opening a Hedge or Trading account, give me a call and we can talk about it.
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Most Recent Walsh Gamma Trader Link Walsh Gamma Trader
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Give me a call if you have any questions.
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Bill Allen
Vice President
Pure Hedge Division
Direct: 312-957-8079
WALSH TRADING INC.
311 South Wacker Drive
Suite 540 Chicago, Illinois 60606
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