August Lean Hogs gap opened lower, making a new lowfor the down move at 83.675. The breakdown tested support at the rising 200-DMAnow at 83.975 and it held as the market rallied almost 4-handles off the low tothe high at 87.625. The rally was finished by 10:00 AM CDT, drifting the restof the session to settle at 86.675. The rally …
Pure Hedge – Livestock and Grain
7/10/24 Well, it looks like the slide lower has begun… August’24 Live Cattle were 10 cents lower today and settled at 182.25. Today’s high was 182.77 ½ and the 1-month high is 188.25. Today’s low was 181.37 ½ and the 1-month low is 176.85. Since 6/10 August’24 Live Cattle are 2.27 ½ higher or more than 1%. The Feeders …
Grain Spreads: Funds Record Short
Commentary Funds are record short corn. It is the second record short for managed money so far in 2024. The first record at the end of February put managed funds at a 340K contract short and a low of 4.08 on the Board. After today’s close, its estimated that the funds are short 363K. Could they add more? Sure, why …
Grain Spreads: Cooler and Wetter Forecast Pressures
Cooler and wetter forecasts into Mid July sent corn and beans significantly lower as both markets made new lows today. Condition ratings for both crops improved by 1 point in the good to excellent category, while new crop demand remains non-existent. Last week’s relief rally in beans that sent November futures to 11.30 looks like a great selling opportunity. Right …
Cattle Markets Fall to Start Week on Weakness
August Feeder Cattle opened higher, rallied to the high of the day at 263.275 and then fell apart. It broke down the rest of the session to the low at 258.525. It settled near the low at 259.175. The breakdown took price below support at the rising 21-DMA now at 259.025 but, it was able to settle above it. With …
Walsh Gamma Trader
7/5/24 COMMODITY BUY/SELL COST PER CONTRACT EXPIRATION GRAINS SEP’24 SOYBEAN MEAL BUY 300P 1.10 or $110.00/Contract 49 Days – 8/23/24 MAY’25 CORN BUY 700C 1 3/4 or $87.50/Contract 294 Days – 4/25/25 JAN’25 SOYBEANS BUY 900P 1 1/2 or $75.00/Contract 175 Days – 12/27/24 MAR’25 WHEAT BUY 500P 5 1/2 or $275.00/Contract 231 Days – 2/21/25 LIVESTOCK APR’25 LIVE CATTLE …
Pure Hedge – Livestock and Grain
7/3/24 The Cattle Markets continued higher today. August’24 Live Cattle were 82 ½ cents higher today and settled at 185.92 ½. Today’s high was 186.10 and the 1-month high is 187.42 ½. Today’s low was 185.25 and the 1-month low is 175.80. Since 6/3 August’24 Live Cattle are $7.07 ½ higher or almost 4%. The Feeders led the way higher. …
Hogs Falter After Early Rally
August Lean Hogs opened lower, raced to the session high at 91.175 and then turned south for essentially the rest of the session, making the low at 8785. It drifted into the close to settle at 88.175. The cutout market saw a rally on the Friday cutout, creating some hope that cash may bottom. But weakening morning cutouts saw futures …
Pure Hedge – Livestock and Grain
7/1/24 The Livestock Markets were knocked lower again today. August’24 Live Cattle were $1.15 lower and settled at 184.27 ½. Today’s high was 185.15 and the 1-month high is 187.42 ½. Today’s low was 183.62 ½ and the 1-month low is 175.80. Since 5/31 August’24 Live Cattle are $5.82 ½ higher or over 3%. Feeders were down almost 3 bucks …
Pure Hedge – Livestock and Grain
6/28/24 The Cattle Markets fell apart in the second half of the day, as the Hogs continued to climb higher. August’24 Live Cattle were 1.02 ½ lower today and settled at 185.42 ½. Today’s high was 187.32 ½ and the 1-month high is just 10 cents higher at 187.42 ½. Today’s low was 185.07 ½ and the 1-month low is …