Hogs Make New Low

Ben DiCostanzoGeneral Commentary

June Lean Hogs gap opened lower, rallied to the high which closed the gap at 99.05 and then broke down to a new low for the down move at 97.825. It settled near the low at 98.175.  The cash market has stagnated even with good demand from consumers and exports. The indices have not been able to challenge their recent …

Hogs and Cattle Struggle as they End Week Lower

Ben DiCostanzoGeneral Commentary

June Lean Hogs opened unchanged at 99.925, which also was the high of the day as price broke down to a new low for the down move at 98.825. Hogs tried to bounce back after making the low but failed to overtake the high and crept lower into the close to settle at 98.95. The cash market has faltered recently …

Walsh Gamma Trader

Bill AllenGeneral Commentary

5/17/24 COMMODITY BUY/SELL COST PER CONTRACT EXPIRATION GRAINS SEP’24 SOYBEAN MEAL BUY 290P 1.00 or $100.00/Contract 98 Days – 8/23/24 JUL’24 CORN BUY 500C 1 7/8 or $93.75/Contract 35 Days – 6/21/24 AUG’24 SOYBEANS BUY 1050P 2 or $100.00/Contract 70 Days – 7/26/24 JULY’24 WHEAT BUY 550P 1 7/8 or $93.75/Contract 35 Days – 6/21/24 LIVESTOCK AUG’24 LIVE CATTLE BUY …

Grain Spreads: Madness in Brazil

Sean LuskGeneral Commentary

Commentary Torrential rainfall in Brazil’s far southern state of Rio Grande do Sul state caused flooding and disruptions to the final stages of soybean and corn harvests. Grain traders the last few trading sessions point to excessive wet weather that is suggesting that with roughly a quarter of the crop remaining in the field, it could be subject to harvest …

Hogs Make New Low

Ben DiCostanzoGeneral Commentary

June Lean Hogs gap opened lower, reversed course and rallied to the session high at 100.675. The rally closed the gap with the high just above the previous day’s settlement. The market couldn’t sustain the rally and it fell to a new low for the down move at 99.375. This was all done before 9:30 CT and the market drifted …

Pure Hedge – Livestock and Grain

Bill AllenGeneral Commentary

5/1/24  Apparently, I see things differently than other people. I have been Bearish the Cattle and Soybean Markets for months now, when most people disagreed with me. Having information in front of you is one thing, but interpreting it correctly means everything. I remain Bearish the Soybean and Cattle Markets. The Cattle Markets were hit hard again today, and the …

Grain Spreads: KC Wheat in Focus

Sean LuskGeneral Commentary

Commentary Wheat short covering stalled out today after the CFTC showed the Managed Money sector had reduced its position by approximately 25%. Managed Money is short over 76K contracts while hard red or KC wheat shows managed funds short 48K. Condition ratings are a tale of two cities. Therefore, Chicago wheat fell further today than KC as the soft red …

Hogs Bounce Back After Weak Open

Ben DiCostanzoGeneral Commentary

June Lean Hogs gap opened lower and broke down to the low of the day at 101.35. The breakdown tested support at 101.975 and the recent low at 101.175. Price reversed course and traded to the high at 103.025, closing the gap. It pulled back into the close to settle at 102.475. The cash market has been pulling back taking …

Pure Hedge – Livestock and Grain

Bill AllenGeneral Commentary

4/29/24  The Beans were higher today based on a strike in Argentina, and will continue their scheduled break later this week, and apparently the Cattle are too fat. Today June’24 Live Cattle were 1.42 ½ lower and settled at 177.15. Today’s high was 179.07 ½ and the 1-month high is 181.12 ½. Today’s low was 176.97 ½ and the 1-month …

Hogs Weaken While Cattle Markets Rally

Ben DiCostanzoGeneral Commentary

June Lean Hogs opened lower, made the high at 104.55 and then broke down below support at 104.35 and continued down ward to the low at 102.225. It settled near the low at 102.475. The cash market has started to work lower and with futures trading at a stiff premium to the cash market, traders took some off the top, …