12/16/24 If you would like to receive more information on the commodity markets, please use the link to join my email list Sign Up Now
.
The Livestock Markets were all lower today, and it looks like a slide lower from here is likely. The Fats broke more than 2 dollars today. February’25 Live Cattle were 2.05 lower today and settled at 189.97 ½. Today’s high was 193.22 ½ and that is the new 1-month high as well. Today’s low was 189.75 and the 1-month low is 185.05. Since 11/15 February’25 Live Cattle are 4.72 ½ higher or about 2 ½%. The Feeders broke a couple bucks today. January’25 Feeder Cattle were 2.10 lower today and settled at 255.50. Today’s high was 258.90 and the 1-month high is 261.20. Today’s low was 255.12 ½ and the 1-month low is 246.65. Since 11/15 January’25 Feeder Cattle are 9.70 higher or almost 4%. The Hogs dropped a couple bucks as well today. February’25 Lean Hogs were 2.05 lower today and settled at 83.55. Today’s high was 86.60 and the 1-month high is 89.60. Today’s low was 82.67 ½ and the 1-month low is 82.10. Since 11/15 February’25 Lean Hogs are 65 cents higher or almost 1%. I highly recommend you do not wait too long. If, and I said if, this is the start of a correction in the Fats, Feeders, and Hogs, it will move quickly. If they open higher tomorrow, I recommend taking advantage of that, and start selling with both hands. This morning’s level in the Feeders, is where I caught a 20 dollar break earlier this year. I am not saying the Feeders will break that much again, but they certainly could. I think another 10-dollar break in the Feeders is possible, for a start anyway. The Fats and the Feeders did not close well today. The February’25 Fats closed just 22 ½ cents off todays lows, and the January’25 Feeders settled just 42 ½ cents off the lows of the day. For the February’25 Fats, setting a new 1-month high and then falling apart does not look good, and they closed $3.25 below the new high. The Janyary’25 Feeders settled $3.35 below the highs of the day. There is still a 5-year record long in the Live Cattle Market, and it increased last week. The Funds added to their Feeder longs as well last week. Here are the Facts again…. There is an enormous, long position that needs to book some profits, and there is a Cattle on Feed Report in 4 Days. This is also the last full trading week of the year, and there are only 10 trading days left in the month and 2024. The Cattle Markets are too damn high, if the Funds don’t liquidate, then I would expect traders to start forcing the issue, and that could have begun today. I like the 184.50 Level in the February’25 Fats for starters. In the January’25 Feeders, I like the area around the 247.10 level, and then lower. I think we can see the February’25 Hogs trade around the 78.50 level. I have many more of the same reasons I feel these markets can break, and if you want to know more, use this link Sign Up Now
.
.
If you like to see what it would take to open an account, please use this link Sign Up Now Accout forms are only 6 pages.
.
.
The Beans slid a little lower again today. January’25 Soybeans were 6 ¼ cents lower today and settled at 982. Today’s high was 993 ½ and the 1-month high is 1012 ¾. Today’s low was 981 and the 1-month low is 975 ¼. Since 11/15 January’25 Soybeans are 16 ½ cents lower or almost 2%. The Corn Market was a few cents higher today. March’25 Corn was 3 cents higher today and settled at 445. Today’s high was 445 ¾ and the 1-month high is 451 ¼. Today’s low was 441 ¼ and the 1-month low is 425 ½. Since 11/15 March’25 Corn is 9 ¾ cents higher or more than 2%. The Wheat Market traded lower again today. March’25 Wheat was 2 ¼ cents lower today and settled at 550. Today’s high was 559 ¼ and the 1-month high is 577 ½. Today’s low was 548 ½ and the 1-month and 52-week low is 540 ¼. Since 11/15 March’25 Wheat is 4 cents lower or almost 1%. I still Think the Beans will trade between 970 and 1000, until we see just how big the South American Bean crop is, and then the lows will be made. The Corn still looks healthy and if it trades lower, it is probably a buy. the Wheat settled at 550 and looks like it could shoot higher at any time, the 220-Day moving average is 616 ¼. If you would like to now more in these markets, use this link Sign Up Now If there is a big move in the markets tomorrow, I will have something to say about it. otherwise, back Wednesday. Have a great night.
.
If you would like to receive more information on the commodity markets, please use the link to join my email list Sign Up Now
.
.
Newest Walsh Gamma Trader Link Walsh Gamma Trader
.
-Bill
I have market commentary and option charts in
Pure Hedge – Livestock
Pure Hedge – Grain
Call for specific trade recommendations.
Email me for free research.
Bill Allen
Senior Account Executive
Direct: 1 312 957 8079
WALSH TRADING INC.
311 South Wacker Drive
Suite 540
Chicago, Illinois 60606
Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.
Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. The information contained on this site is the opinion of the writer or was obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in market prices. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. (“WTI”) shall be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.