August Lean Hogs gap opened lower and rallied to close the gap as it raced to the session high at 91.925. The success didn’t last long and price broke down to the session low at 90.65. The rally stalled just below resistance at 92.375 and the breakdown to the low stalled just above support at 90.40. After making the low, …
Pure Hedge – Livestock and Grain
7/17/24 The Cattle Markets were mixed today. August’24 Live Cattle were 1.60 higher today and settled at 184.27 ½. Today’s high was 184.57 ½ and the 1-month high is 188.25. Today’s low was 181.77 ½ and the 1-month low is 180.35. Since 6/17 August’24 Live Cattle are 1.60 higher or almost 1%. The Feeders led the way higher. August’24 Feeder …
Grain Spreads: Limp Bounce For Soybeans
Commentary In my opinion, beans have more room to the downside near term. Since July 5th, the market has broken 93 cents on good weather and weak outside markets like corn and wheat. Funds are now record short close to 200K short. One of our downside targets got hit at 10.38, making a low of 1037.2. That level represents 20% …
July Gold 2024
If you have physical Gold or have an investment interest in Precious Metals here is an interesting bit of data I came across. The Chinese who in my opinion are the World’s number one consumer and producer in Gold have been said to be out of the physical market for the last two months. They all but said so in …
Hogs Falter After Early Rally
August Lean Hogs opened higher and rallied to the session high at 89.80. The rally took price through the declining 21-DMA now at 89.40 but it was unable to stay above it. It broke down and traded to the session low at 88.075 and settled near the low at 88.425. The breakdown took price below support at 88.325 with settlement …
Pure Hedge – Livestock and Grain
7/15/24 The Livestock Markets were mixed today, without much price action. It was a weak attempt to break the Fats today. August’24 Live Cattle were 25 cents lower today and settled at 182.12 ½. Today’s high was 183.37 ½ and the 1-month high is 188.25. Today’s low was 181.85 and the 1-month low is 180.35. Since 6/14 August’24 Live Cattle …
Pure Hedge – Livestock and Grain
7/12/24 August’24 Live Cattle were 12 ½ cents higher today and settled at 182.37 ½. Today’s high was 183.05 and the 1-month high is 188.25. Today’s low was 181.05 and the 1-month low is 176.85. Since 6/12 August’24 Live Cattle are 4.22 ½ higher or close to 4 ½%. The Feeders looked good. August’24 Feeder Cattle were 2.50 higher today …
Walsh Gamma Trader
7/12/24 COMMODITY BUY/SELL COST PER CONTRACT EXPIRATION GRAINS SEP’24 SOYBEAN MEAL BUY 300P 2.55 or $255.00/Contract 42 Days – 8/23/24 MAY’25 CORN BUY 700C 1 1/4 or $62.50/Contract 287 Days – 4/25/25 JAN’25 SOYBEANS BUY 900P 2 3/4 or $137.50/Contract 168 Days – 12/27/24 MAR’25 WHEAT BUY 500P 8 1/4 or $412.50/Contract 224 Days – 2/21/25 LIVESTOCK APR’25 LIVE CATTLE …
Livestock Markets End Week on a Positive Note
August Lean Hogs opened higher and rallied all session to the high at 89.35. The low was 87.225 which occurred in the opening couple of minutes and was just above the key level at 87.10. It dipped at the end of the day to settle at 88.45.The rally was follow-through to the upside after Thursday’s bullish Piercing candlestick formation. It …
Grain Spreads: Bullish Surprise for Corn
Commentary December 24 corn prices have been clobbered since Memorial Day weekend due to mostly perfect weather in the Midwest. Funds are record short at 360K futures and options. Condition ratings are 13 percentage points higher than this time last year. Despite the ridiculous June 28th acreage report that showed one million more acres than previously thought that didn’t taken …