Walsh Trading Daily Insights
Commentary
Another wild trading session on the livestock front as lower openings were negated by strong rallies, with cattle markets able to hold onto most of their gains while Hogs couldn’t hold their gains. With all the negative issues facing these markets any rally is encouraging. The uncertainty surrounding the markets continues to create wild market swings. Today it was mostly positive after a down start. Slaughter levels rebounded with cattle slaughter rising to 99,000 head while hog slaughter leaped to 450,000 from a revised downward Monday slaughter of 300,000. Boxed beef cutouts were higher with choice cutouts up 0.81 to 226.67 and select up a whopping 4.37 to 215.77. There was moderate to good demand and moderate to heavy offerings. The load count was 143 and the choice / select spread narrowed to 10.90. Thus far for Tuesday negotiated cash trading has been at a standstill in Southern Plains. In Nebraska and Western Cornbelt negotiated cash trading has been very limited on very light demand. Not enough trades for a market trend. Some trading took place on a live basis at 95.00 and from 150 – 152 for dressed sales. The Feeder Cattle Index inched higher to 114.49 as of 4/13/20. The Lean Hog Index continued its fall and is at 48,02 as of 4/10/20. The Pork Cutout Index continued its slide and is at 52.57 as of 4/13/20.
Trade Suggestion(s)
Risk/Reward
Futures N/A
Options N/A
For those interested I hold a weekly grain (with Sean Lusk) and livestock webinar on Thursdays and our next webinar will be on Thursday, April 16,2020 at 3:00 pm. It is free for anyone who wants to sign up and the link for sign up is below. If you cannot attend live a recording will be sent to your email upon completion of the webinar.
**Call me for a free consultation for a marketing plan regarding your livestock needs.**
Ben DiCostanzo
Senior Market Strategist
Walsh Trading, Inc.
Direct: 312.957.4163
888.391.7894
Fax: 312.256.0109
www.walshtrading.com
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