3/25/24 The Livestock and Grain Markets were mixed today. The Cattle Markets continued lower today. June’24 Live Cattle were 1.30 lower today and settled at 181.600. Today’s high was 183.350 and the 1-month high is 186.62 ½. Today’s low was 180.75, just above the 1-month low of 180.62 ½. Since 2/23 June’24 Live Cattle are 2.25 lower or more than …
Cattle Futures Falter in Front of COF
May Feeder Cattle is now the lead contract as its volume has exceeded the volume of the April contract. Feeders broke down hard on Friday as liquidation in front of the looming Cattle on Feed report took place. Traders feared a bearish report and a bearish report is what they received. The breakdown in futures took price from the session …
Grain Spreads: Inspections Coming
Commentary Brazil’s soybean crop is expected to fall well short of last year’s record, but it’s also said to be over 60% harvested. That suggests increased South American competition in the near future with Argentina’s harvest following later in the Spring. Despite the double digit move lower today, volumes chasing the break were low. The US continues to struggle with …
Pure Hedge – Livestock and Grain
3/22/24 Everything is heading lower, in my opinion. There is still time to act, but it needs to happen now. The Cattle and Soybean Markets look poised to do what I expected and have been writing about. This appears to be the beginning of the big Cattle break. Today April’24 Live Cattle were 87 ½ cents lower and settled at …
Walsh Gamma Trader
3/22/24 COMMODITY BUY/SELL COST PER CONTRACT EXPIRATION GRAINS SEP’24 SOYBEAN MEAL BUY 270P 0.85 or $85/Contract 154 Days – 8/23/24 JUL’24 CORN BUY 380P 1 7/8or $93.75/Contract 91 Days – 6/21/24 AUG’24 SOYBEANS BUY 960P 1 5/8 or $81.25/Contract 126 Days – 7/26/24 JULY’24 WHEAT BUY 430P 1 1/4 or $62.50/Contract 91 Days – 6/21/24 LIVESTOCK AUG’24 LIVE CATTLE BUY …
Hogs Break Down
June Lean Hogs is now the lead contract as its volume has overtaken the volume for the April contract. The June contract continued its plunge since becoming the lead contract, breaking down to 98.80 and settling lower on the day at 99.30. The high was at 100.95. Since June has become the lead, traders have been stripping some of the …
Pure Hedge – Livestock and Grain
3/20/24 UPDATED The Livestock Market were all lower today, along with the Corn and Wheat Markets, but the Soybeans shot higher. Hopefully the Beans continue to climb before Planting intentions are released. Today April’24 Live Cattle were 25 cents lower and settled at 187.80, just above today’s low of 187.40. The 1-month low is 184.47 ½. Today’s high was 188.57 …
Grain Spreads: Tariffs on Wheat
Commentary Wheat prices are finally finding some support on colder temps in the plains while the aggressive attacks by Russia and Ukraine against each other have given the edge to the bull camp so far this week. The bigger news overnight was the EU announcing it was crafting some sort of tariff against Russian grain imports, and possibly against oilseed …
Are Feedlots Current?
April Feeder Cattle opened higher at the low of the day (252.375). The low was just above the key level at 252.35 and the breakout saw price rally the rest of the session to the high at 255.25. It settled near the high at 255.10. The rally took price above resistance at 254.30 and climbed above resistance at the 21-DMA …
Pure Hedge – Livestock and Grain
3/18/24 The Cattle and Wheat Markets had positive moves today, but how long can it last? April’24 Live Cattle were 1.325 higher today and settled at 188.575, just below today’s high of 188.750. The 1-month high is 190.275. Today’s low was 187.200 and the 1-month low is 184.475. Since 2/18 April’24 Live Cattle are 1.025 higher or just over ½%. …