10/13/23
The Meats were all lower today but mixed for the week. December’23 Live Cattle was 1.050 lower today, and settled at 186.750, but eked out a gain of 0.075 for the week. November’23 Feeder Cattle were down 2.000 today and settled at 251.575 but were 0.700 higher for the week. December’23 Lean Hogs were also a little lower today. Hogs were 0.600 lower today, and 4.075 lower for the week. Next year’s prices: June’24 Live Cattle 187.700, August’24 Feeder Cattle 271.500, August’24 Lean Hogs 95.475.
LIVE CATTLE CALLS
| MONTH | STRIKE | PRICE | COST |
| DEC’23 186.750 | 190C | 1.850 | $740 |
| 195C | 0.675 | $270 | |
| 200C | 0.250 | $100 | |
| 205C | 0.100 | $40 | |
| 210C | 0.025 | $10 | |
| ATM 187C 3.125 | ATM STRADDLE 6.500 | EXPIRES 12/1/23 | |
| FEB’24 190.925 | 195C | 3.550 | $1420 |
| 200C | 1.775 | $710 | |
| 205C | 0.900 | $360 | |
| 210C | 0.450 | $180 | |
| 215C | 0.225 | $90 | |
| ATM 191C 5.150 | ATM STRADDLE 10.375 | EXPIRES 2/2/24 | |
| APR’24 193.850 | 200C | 3.825 | $1530 |
| 206C | 2.100 | $840 | |
| 210C | 1.350 | $540 | |
| 216C | 0.700 | $280 | |
| 220C | 0.450 | $180 | |
| ATM 194C 6.450 | ATM STRADDLE 13.05 | EXPIRES 4/5/24 |
LIVE CATTLE PUTS
| MONTH | STRIKE | PRICE | COST |
| DEC’23 187.700 | 180P | 1.025 | $410 |
| 175P | 0.425 | $170 | |
| 170P | 0.175 | $70 | |
| 165P | 0.100 | $40 | |
| 160P | 0.050 | $20 | |
| ATM 187P 3.375 | ATM STRADDLE 6.500 | EXPIRES 12/1/23 | |
| FEB’24 190.925 | 185P | 2.875 | $1150 |
| 180P | 1.650 | $660 | |
| 175P | 0.875 | $350 | |
| 170P | 0.550 | $220 | |
| 165P | 0.325 | $130 | |
| ATM 191P 5.225 | ATM STRADDLE 10.375 | EXPIRES 2/2/24 | |
| APR’24 193.850 | 186P | 3.500 | $1400 |
| 180P | 2.050 | $820 | |
| 176P | 1.425 | $570 | |
| 170P | 0.825 | $330 | |
| 166P | 0.575 | $230 | |
| ATM 194P 6.600 | ATM STRADDLE 13.05 | EXPIRES 4/5/24 |
JUNE’24 LIVE CATTLE
| CURRENT PRICE | PRICE ACTION | PRICE AFTER MOVE | STRIKE | CURRENT PRICE |
| 187.700 | 20% BULL MOVE | 225.240 | 224C | 0.350 |
| 187.700 | 20% BEAR MOVE | 150.160 | 152P | 0.525 |
| 187.700 | 30% BULL MOVE | 244.010 | 244C | 0.075 |
| 187.700 | 30% BEAR MOVE | 131.390 | 132P | 0.125 |
| 187.700 | 40% BULL MOVE | 262.780 | 262C | 0.050 |
| 187.700 | 40% BEAR MOVE | 112.620 | 114P | 0.025 |
FEEDER CATTLE CALLS
| MONTH | STRIKE | PRICE | COST |
| NOV’23 251.575 | 255C | 1.875 | $937.50 |
| 260C | 0.775 | $387.50 | |
| 265C | 0.325 | $162.50 | |
| 270C | 0.150 | $75 | |
| 275C | 0.075 | $37.50 | |
| ATM 251C 3.600 | ATM STRADDLE 6.625 | EXPIRES 11/16/23 | |
| JAN’24 252.250 | 255C | 5.475 | $2737.50 |
| 260C | 3.600 | $1800 | |
| 265C | 2.275 | $1137.50 | |
| 270C | 1.400 | $700 | |
| 275C | 0.875 | $437.50 | |
| ATM 252C 6.875 | ATM STRADDLE 13.500 | EXPIRES 1/25/24 | |
| MAR’24 254.925 | 266C | 5.900 | $2950 |
| 270C | 4.600 | $2300 | |
| 276C | 3.100 | $1550 | |
| 280C | 2.350 | $1,175 | |
| 286C | 1.375 | $687.50 | |
| ATM 254C 9.625 | ATM STRADDLE 18.325 | EXPIRES 3/28/24 |
FEEDER CATTLE PUTS
| MONTH | STRIKE | PRICE | COST |
| NOV’23 251.575 | 245P | 1.100 | $550 |
| 240P | 0.450 | $225 | |
| 235P | 0.225 | $112.50 | |
| 230P | 0.100 | $50 | |
| 225P | 0.050 | $25 | |
| ATM 251P 3.025 | ATM STRADDLE 6.625 | EXPIRES 11/16/23 | |
| JAN’24 252.250 | 245P | 3.800 | $1900 |
| 240P | 2.450 | $1225 | |
| 235P | 1.550 | $775 | |
| 230P | 1.000 | $500 | |
| 225P | 0.650 | $325 | |
| ATM252P 6.625 | ATM STRADDLE 13.500 | EXPIRES 1/25/24 | |
| MAR’24 254.925 | 246P | 5.450 | $2725 |
| 240P | 3.675 | $1837.50 | |
| 236P | 2.775 | $1387.50 | |
| 230P | 1.825 | $912.50 | |
| 226P | 1.375 | $687.50 | |
| ATM 254P 8.700 | ATM STRADDLE 18.325 | EXPIRES 3/28/24 |
AUGUST’24 FEEDER CATTLE
| CURRENT PRICE | PRICE ACTION | PRICE AFTER MOVE | STRIKE | CURRENT PRICE |
| 271.500 | 20% BULL MOVE | 325.800 | 324C | 1.450 |
| 271.500 | 20% BEAR MOVE | 217.200 | 218P | 1.525 |
| 271.500 | 30% BULL MOVE | 352.950 | 352C | 0.575 |
| 271.500 | 30% BEAR MOVE | 190.050 | 192P | 0.475 |
| 271.500 | 40% BULL MOVE | 380.100 | 380C | 0.300 |
| 271.500 | 40% BEAR MOVE | 162.900 | 164P | 0.100 |
LEAN HOG CALLS
| MONTH | STRIKE | PRICE | COST |
| DEC’23 69.500 | 80C | 0.350 | $140 |
| 85C | 0.150 | $60 | |
| 90C | 0.075 | $30 | |
| 95C | 0.025 | $10 | |
| 100C | 0.025 | $10 | |
| ATM 69C 3.225 | ATM STRADDLE 5.950 | EXPIRES 12/14/23 | |
| FEB’24 74.350 | 80C | 2.050 | $820 |
| 85C | 0.975 | $390 | |
| 90C | 0.475 | $190 | |
| 95C | 0.225 | $90 | |
| 100C | 0.125 | $50 | |
| ATM74C 4.475 | ATM STRADDLE 8.600 | EXPIRES 2/14/24 | |
| APR’24 81.300 | 90C | 2.200 | $880 |
| 96C | 1.075 | $430 | |
| 100C | 0.675 | $270 | |
| 106C | 0.350 | $140 | |
| 110C | 0.225 | $90 | |
| ATM 82C 5.100 | ATM STRADDLE 10.900 | EXPIRES 4/12/24 |
LEAN HOG PUTS
| MONTH | STRIKE | PRICE | COST |
| DEC’23 69.500 | 70P | 3.225 | $1290 |
| 65P | 1.225 | $490 | |
| 60P | 0.400 | $160 | |
| 55P | 0.150 | $60 | |
| 50P | 0.050 | $20 | |
| ATM 69P 2.725 | ATM STRADDLE 5.95 | EXPIRES 12/14/23 | |
| FEB’24 74.350 | 70P | 2.475 | $990 |
| 65P | 1.150 | $460 | |
| 60P | 0.550 | $220 | |
| 55P | 0.250 | $100 | |
| 50P | 0.125 | $50 | |
| ATM 74P 4.125 | ATM STRADDLE 8.600 | EXPIRES 2/14/24 | |
| APR’24 81.300 | 76P | 3.225 | $1290 |
| 70P | 1.575 | $630 | |
| 66P | 0.950 | $380 | |
| 60P | 0.450 | $180 | |
| 56P | 0.275 | $110 | |
| ATM 82P 5.800 | ATM STRADDLE 10.900 | EXPIRES 4/12/24 |
AUGUST’24 LEAN HOGS
| CURRENT PRICE | PRICE ACTION | PRICE AFTER MOVE | STRIKE | CURRENT PRICE |
| 95.475 | 20% BULL MOVE | 114.570 | 114C | 1.625 |
| 95.475 | 20% BEAR MOVE | 76.380 | 78P | 1.825 |
| 95.475 | 30% BULL MOVE | 124.118 | 124C | 0.675 |
| 95.475 | 30% BEAR MOVE | 66.832 | 68P | 0.725 |
| 95.475 | 40% BULL MOVE | 133.665 | 132C | 0.350 |
| 95.475 | 40% BEAR MOVE | 57.285 | 58P | 0.250 |
Bill Allen
Senior Account Executive, Walsh Trading
Phone: 312-957-8079 or 800-556-9411
Email: [email protected]
Walsh Trading
53 W Jackson Suite 750
Chicago, Il 60604