Pure Hedge – Livestock and Grain

Bill AllenGeneral Commentary


That was a long trading day, without too much excitement. The Livestock and Grain markets were all mixed today. February’24 Live Cattle was 1.125 lower today and settled at 169.275. Since 11/27 February’24 Live Cattle is up 0.425 or ¼ of a %. The Feeders had a small gain today. March’24 Feeder Cattle gained 0.825 and settled at 225.400. Today’s high of 227.175 is also the 1-month high in the Feeders. Since 11/27 March’24 Feeders are 9.100 higher or over 4%. Hogs had a small bounce back today. February’24 Lean Hogs were 0.575 higher today and settled at 69.875, not far from today’s high of 70.200. Since 11/27 February’24 Lean Hogs are 2.900 higher or over 4%. Soybeans had the only gain in the Grains today. March’24 Soybeans gained 1 ½ cents today and settled at 1320 ½. Since 11/27 March’24 Soybeans are down 27 ¾ cents or just over 2%. March’24 Corn declined 3 ¾ cents today and settled at 476 ½. Since 11/27 March’24 Corn is up 1 ¼ cents or ¼ of a %. March’24 Wheat dropped 13 ¼ cents today and settled at 623. Since 11/27 March’24 Wheat is 62 ¼ cents higher or more than 11%. Prices continue to fluctuate on low volume. I do not expect too much action the rest of the year. However, I feel that the Soybean will start to break again at the beginning of next year. The cattle have bounced recently, and short term they can continue to bounce, but I feel they will be heading lower as we move into next year. I still recommend taking advantage of the current price levels, and begin hedging now, if you have not yet started that process. It’s still my opinion that we will see $11.50 Soybeans next Summer or Fall, and that the Live Cattle markets will head toward the 145 level, and the Feeders toward the 185 level through the Summer. If you are interested in learning how I structure Option Trades or would like structured Option Trades based on your unique hedging or trading goals, send me an email or give me a call. I will be the one replying to your emails or answering the call.

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Bill Allen

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