1/15/25
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The Cattle Markets were higher again today, with the Hogs down half a buck. The Fats gained another dollar today. February’25 Live Cattle were 1.12 ½ lower today and settled at 198.52 ½. Today’s high was 198.85 and the 1-month high is 199.10. Today’s low was 197.47 ½ and the 1-month low is 186.27 ½. Since 12/13 February’25 Live Cattle are 6.50 higher or more than 3%. The Feeders gain their daily dollar again today. March’25 Feeder Cattle were 1.60 higher today and settled at 269.80. Today’s high was 270.17 ½ and the 1-month high is 271. Today’s low was 267.85 and the 1-month low is 254.00. Since 12/13 March’25 Feeder Cattle are 12.12 ½ higher or almost 5%. The Hogs gave some back today. February’25 Lean Hogs were 50 cents lower today and settled at 83.12 ½. Today’s high was 83.65 and the 1-month and 52-week high is 86.60. Today’s low was 82.87 ½ and the 1-month low is 78.45. Since 12/13 February’25 Lean Hogs are 2.47 ½ lower or almost 3%. The open interest in the Live Cattle Market has shifted from February’25 to the April’25 Contract. So, the Funds are just rolling their position. The February’25 Contract could sink lower if the Funds continue to only buy the April’25 Contract. I still like the 186.50 level for the February’25 Fats, for all the same reasons. The Feeders will trade higher forever or will eventually break back down. I still think they are getting too close to the sun now, and the 50-Day moving average is 255.47 and the 1-month low is 254. I feel the Hogs can drift back to the 80.00 level as well. The Natural Gas Market looks very strong still, and so does the Soybean Oil Market
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The Grain Markets were mixed today. The Beans continued to pull back today. March’25 Soybeans were 4 ¾ cents lower today and settled at 1042 ¾. Today’s high was 1054 and the 1-month high is 1064. Today’s low was 1039 ¾ and the 1-month and 52-week low is 947. Since 12/13 March’25 Soybeans are 47 ¾ cents higher or almost 5%. The Corn Market rallied higher today. March’25 Corn was 4 ¼ cents higher today and settled at 478 ¾. Today’s high was 479 ½ and that is the new 1-month high as well. Today’s low was 474 and the 1-month low is 435 ¾. Since 12/13 March’25 Corn is 36 ¾ cents higher or more than 8%. The Wheat Market was slightly higher today. March’25 Wheat was ¾ of a cent higher today and settled at 547. Today’s high was 551 ½ and the 1-month high is 559 ¼. Today’s low was 542 and the 1-month and 52-week low is 526. Since 12/13 March’25 Wheat is 5 ¼ cents lower or almost 1%. The Beans shot too high after the WASDE Report, and now the eventual slow drift back below 1000 has begun. There is no reason to be worried about the South American crops yet, and they will still be Yuge. I think we can see the March’25 Soybeans trade down to the 100-Day moving average of 1020 ¼, and then down to the 50-Day moving average of 1002 ¾. The Corn Market looks very strong and closed well today, but I still don’t think the market is ready for 500 March’25 Corn, even after making a new 1-month high. I think a gradual pull back to 450 is likely. The 200-Day moving average is 448 ¼, and the 100-Day moving average is 436 ½, and the 50% retracement from the 52-week high/low is 456. I still like the Wheat Market and think it can head toward the 580 level. the 100-Day moving average is 575 ¼ and the 200-Day moving average is 609 ¼. Have a great night.
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Today’s Brazil Weather Radar Map Below.
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