Commentary The soybean and meal markets traded sideways with a lack of fundamental input to the complex in my opinion. May soybeans closed down 3 1/2 cents at $11.81 1/2 and near the session low. May soybean meal closed up $2.90 at $336.00 and near mid-range. May bean oil fell 99 points at 47.90 cents and near the session low. Export inspections …
Hogs Dominate, Cattle Markets Crushed
June Lean Hogs continued its impressive rally on Friday, making another new high for the recent up move and ending the week near the high. It gap opened higher, closed the gap and then rallied the rest of the session to the high at 108.00. The low came in at 105.375 and settlement was at 107.90. The hog cash market …
Walsh Gamma Trader
4/5/24 COMMODITY BUY/SELL COST PER CONTRACT EXPIRATION GRAINS SEP’24 SOYBEAN MEAL BUY 270P 0.85 or $85/Contract 140 Days – 8/23/24 JUL’24 CORN BUY 380P 1 1/4 or $62.50/Contract 77 Days – 6/21/24 AUG’24 SOYBEANS BUY 960P 1 1/8 or $56.25/Contract 112 Days – 7/26/24 JULY’24 WHEAT BUY 465P 2 or $100.00/Contract 77 Days – 6/21/24 LIVESTOCK AUG’24 LIVE CATTLE BUY …
Grain Spreads: Wheat Bounce?
Commentary This past Monday 4/1, USDA released its first crop condition rating for the winter wheat crop. The good to excellent category came in at an impressive rating of 56 percent. This was up six percentage points from the end of November and the highest initial spring rating since 2019. The portion of crop rated poor/very poor stood at 11%, …
Pure Hedge – Livestock and Grain
4/5/24 I hope your broker advised you well. This Cattle break I have been warning about is here, and was not hard to see, if you knew where to look. I believe the Soybean Market will be the next to fall. The Cattle Market was down big again today. June’24 Live Cattle was 3.80 lower today and settled at 172.05. …
Hogs Consolidate
June Lean Hogs made a new high for the up move on Wednesday, trading up to 105.725. Thursday’s price action saw some early weakness after opening unchanged from Wednesday’s settlement and failing in an attempt to rally out of the gate. The failure sent price to the low of the day at 103.95, taking out Wednesday’s low in the process. …
Cattle Markets Crash
May Feeder Cattle was pummeled on Monday as the first reported case of a human contracting Bird Flu made its way over the internet. The case was located in Texas as the patient became ill following contact with dairy cows that were presumed to have been sick with the virus. Feeders broke down hard late in the session on Monday, …
Pure Hedge – Livestock and Grain
4/1/24 I said it would be a vicious break in the Cattle Markets. The move lower today should have your attention, and it’s not over. Do what you need to do to protect your downside exposure. I feel the Soybean Market will have a break like this shortly. Today June’24 Live Cattle was 4.92 ½ lower and settled at 175.32 …
Hogs Consolidate
June Lean Hogs stayed in neutral on Thursday, trading both sides of unchanged and settling just below the previous day’s settlement. The high came in at 102.85, the low at 100.675 and settlement was at 101.45. The market consolidated the past three days after the strong rally on Monday as traders waited for the Quarterly Hogs and Pigs Report that …
Pure Hedge – Livestock and Grain
3/28/24 The Livestock and Grain Markets were all over the place today. June’24 Live Cattle were 1.57 ½ higher today and settled at 180.25, just below today’s high of 180.55. The 1-month high is 186.62 ½. Today’s low was 177.75 and the 1-month low is 176.40. Since 2/28 June’24 Live Cattle are 2.12 ½ lower or just over 1%. May’24 …