Commentary August Lean Hogs opened higher, rallied to close the gap created from the June 19th 52.70 low and the yesterday’s 52.45 high making the high at 53.025 and then dipping to settle at 52.50. It looked like some short-covering to me after making another new low for the down move on Monday for the August contract. The gap closure …
Grain Spreads: Bean Counting
Commentary: Included here is a chart of the Nov 2020 soybean contract. The market finished last week with some modest upside momentum. In my view it came on thoughts of better demand prospects from China and suspect weather meaning too dry in the eastern belt and too hot in the West. Recent rains over the last four days and more …
Livestock Report
Walsh Trading Daily Insights Commentary August Lean Hogs opened higher, approached resistance at 54.775, making the high at 54.50 and then tanked. It traded down to the session low at 52.70 and settled nearby at 52.80. Settling near the low after failing at resistance after bouncing off a new low for the down move on a Friday is …
Market Commentary
Commentary: A few brief thoughts regarding the markets. There remains some unknowns certainly given the global climate. However, the Chinese are buying beans. Some of this is to restock, some is the push to expand hog production to fuel the crush. Regardless, the bean market has a couple near term pluses in addition to the purchases. The USDA 395 carry …
Livestock Report
Walsh Trading Daily Insights Commentary July Lean Hogs made a new low for the down move early in the trading session, falling to 48.175 and then reversing course and rallying the remainder of the session to the high of the day at 49.85. It settled nearby at 49.65, unchanged from Tuesday’s settlement. Support for July Lean Hogs on …
Grain Spreads: Dec 20/21 Corn
There hasn’t been much for either the bulls or bears to get excited with Corn in the last couple weeks. Maybe for good reason as the crop is planted and emergence per the USDA is near 95 percent. Corn has found some support from a sixth straight weekly rebound in ethanol production and drop in inventories. Trend and Index following funds …
Livestock Report
Walsh Trading Daily Insights Commentary Livestock markets opened weak on Monday as rising Wuhan virus cases sent shivers through the markets as traders feared demand would once again collapse. Markets were able to recover and settled in positive territory. July Lean hogs settled at 52.275. Support for July Lean Hogs on Tuesday is at 51.80, 50.475 and …
Livestock Report
Walsh Trading Daily Insights Commentary July Lean Hogs opened lower, and was able to temporarily stop the selling as it rebounded and traded to the high of the session at 53.20. It failed from here, breaking down to a new low for the down move, trading down to 51.55 and settling nearby at 51.675. Settlement was below the …
Food for Thought
Commentary: Looking at the current supply demand scenario and the USDA releasing numbers tomorrow. I have pondered what I am perceiving are some possibilities. First the soy exports may be a bit overstated. Second the acreage may well be understated by as much as 2 million acres. These are important numbers given the current global stocks. When I look at …
Livestock Report
Commentary: July Lean Hogs broke down to a new low for the down move, trading down to 51.575 before reversing course and rallying to the high of the day at 53.425. It settled nearby at 52.80. It formed a Doji candlestick indicating indecision in the market, in my opinion. The Pork Cutout Index and the Lean Hog Index continued their …