Are Feedlots Current?

Ben DiCostanzoGeneral Commentary Leave a Comment

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

Bill AllenGeneral Commentary Leave a Comment

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

Ben DiCostanzoGeneral Commentary Leave a Comment

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

Bill AllenGeneral Commentary Leave a Comment

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

Bill AllenGeneral Commentary Leave a Comment

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

Sean LuskGeneral Commentary Leave a Comment

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

Bill AllenGeneral Commentary Leave a Comment

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 …

Hogs Consolidating

Ben DiCostanzoGeneral Commentary Leave a Comment

April Lean Hogs continued its consolidation on Thursday. It is now trading in the upper part of its 85.575 – 83.15 trading Range. Thursday’s range was 85.30 – 84.35 with settlement at 85.025, forming another narrow body and narrow range day. Settlement was above the 8-DMA now at 84.70 with the high below resistance at 85.325. The cash markets continue …

Pure Hedge – Livestock and Grain

Bill AllenGeneral Commentary Leave a Comment

3/13/24 The Livestock and Grain Markets were mixed today, and they are about to start moving. The Cattle Markets continued to climb today. April’24 Live Cattle were 1.675 higher today and settled at 189.925, just below today’s high of 190.000, which is also the new 1-month high. Today’s low was 188.050 and the 1-month low is 182.825. Since 2/13 April’24 …

Grain Spreads: Bean Surge

Sean LuskGeneral Commentary Leave a Comment

Commentary May soybeans rallied 16 3/4 cents to $11.96, a one-month-high close, while May meal rose $2.00 to $339.20. May soy oil surged 118 points to 47.82 cents, marking the highest close since Feb. 8th. The market in my view rallied on one headline. Brazilian government supply agency CONAB, which is the Brazilian version of the USDA cut their 2023/24 …