1/22/25
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The Cattle Markets took off today, with the Hogs gaining as well. The Fats made new contract highs today. April’25 Live Cattle was 2.45 higher today and settled at 199.77 ½. Today’s high was 199.87 ½ and that is the new contract high as well. Today’s low was 197.25 and the 1-month low is 189.30. Since 12/20 April’25 Live Cattle are 9.65 higher or more than 5 %. The Feeders pushed ahead today. March’25 Feeder Cattle were 5.82 ½ higher today and settled at 273.07 ½. Today’s high was 273.67 ½ and that is the new contract high as well. Today’s low was 267.40 and the 1-month low is 254.90. Since 12/20 March’25 Feeder Cattle are 17.25 higher or almost 7%. The Hogs made a gain today. April’25 Lean Hogs were 57 ½ cents higher today and settled at 87.27 ½. Today’s high was 87.37 ½ and the 1-month high is 91.37 ½. Today’s low was 86.00 and the 1-month low is 84.50. Since 12/20 April’25 Lean Hogs are 3.25 lower or more than 3 ½ %. The February’25 Fats traded as high as 200.15 and settled at 200.05 today. The Cattle Markets have been on an incredible roll, with the Funds continuing to buy Futures. I would have to think there would be some profit taking before the Cattle on Feed Report, but maybe someone knows something… The Border is still closed to Cattle from Mexico, but that won’t last forever either. So, if there is a surprise in the COF Report, and/or President Trump opens the Border to Cattle from Mexico, as a good will gesture, things will change rapidly.
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The Grain Markets got beat up today. The Beans made new 1-month highs but then broke today. March’25 Soybeans were 11 ¼ cents lower today and settled at 1056. Today’s high was 1073 ½ and that is a new 1-month high. Today’s low was 1051 ¾ and the 1-month low is 971 ¾. Since 12/20 March’25 Soybeans are 76 ¾ cents higher or almost 8%. The Corn Market made 1-month highs as well today. March’25 Corn was 5 ¾ cents lower today and settled at 484 ¼. Today’s high was 492 ¼ and that is the new 1-month high as well. Today’s low was 482 ½ and the 1-month low is 445 ¼. Since 12/20 March’25 Corn is 30 cents higher or about 8 ½ %. The Wheat Market also broke today. March’25 Wheat was 4 ¾ cents lower today and settled at 554. Today’s high was 566 ¾ and that is a new 1-month high as well. Today’s low was 551 ½ and the 1-month and 52-week low is 526. Since 12/20 March’25 Wheat is 21 cents higher or almost 4%. The Grains all made new 1-month highs today and then broke. I still feel the Beans will head lower. China has already started refusing Soybeans from Brazil, and it is still not clear what the Trump Administration will do with tariffs on China. Brazil has started harvesting, and is a little behind pace, but will probably catch up soon, and harvest a record size Soybean crop. I like the 1020 level in March’25 Soybeans and then see what it does from there, and 1021 ½ is the 100-Day moving average. March’25 Corn continued higher this morning, but it was too much too fast, and the Market broke. I still like the 450 level for March’25 Corn. The 50% retracement from the 52-week high/low is 456, the 50-Day moving average is 448 ½, the 200-Day moving average is 448 ¼, and the 1-month low is 445 ¼. The Wheat has started to look good again, and I think there could be some more upside to come. I like the 580 level in the March’25 Wheat, with the 100-Day moving average at 575, and the 200-Day moving average at 607 ½. It looks like it is going to get very volatile, very soon, in all of the Livestock and Grain Markets.
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I will be in San Antonio for Cattle Con on February 3rd – 7th, and in Denver for the Commodity Classic on March 1st – 5th. Stop by and say hello.
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Today’s Brazil Weather Radar Map Below.
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Thank you to all of my old and new Customers. I appreciate your business. To those of you that are close to opening an account, please call me if you have any questions, and I look forward to working with you soon. To anyone thinking about opening a Hedge or Trading account, give me a call and we can talk about it.
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-Bill
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