3/24/25
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The Cattle Markets opened just below the highs of the day and broke from there. The June’25 Fats settled 3.00 below the high today. June’25 Live Cattle were 62 ½ cents lower today and settled at 202.15. Today’s high was 205.15 and the 1-month and contract high is 207.30. Today’s low was 201.82 ½ and the 1-month low is 185.00. Since 2/24 June’25 Live Cattle are 10.72 ½ higher or almost 6%. The Feeders followed the same pattern as the Fats this morning. May’25 Feeder Cattle were 25 cents lower today and settled at 284.85. Today’s high was 288.65 and the 1-month and 52-week contract high is 290.62 ½. Today’s low was 283.32 ½ and the 1-month low is 265.20. Since 2/24 April’25 Feeder Cattle are 14.57 ½ higher or more than 5%. The Hogs traded lower today. June’25 Lean Hogs were 1.67 ½ lower today and settled at 95.80. Today’s high was 97.67 ½ and the 1-month high is 101.10. Today’s low was 94.50 and the 1-month low is 92.00. Since 2/24 June’25 Lean Hogs are 4.12 ½ lower or more than 4%. The Cattle Markets traded much higher on the open today but eventually began to decline and closed lower on the day. The Cattle on Feed Report that came out last Friday looked to be Bullish, but the market is already artificially high. There was a race to see how high they could get the Cattle Markets to trade today, but traders saw through that and sold into the rally. The June’25 Fats broke 3.00 bucks from the high and settled just 30 cents above the day’s low of 201.82 ½. The May’25 Feeders broke off the opening range and settled 3.80 below the high. The expiring March’25 contract ended up closing 12 ½ cents higher on the day at 286.60. The seasonal high in the Cattle Markets tends to be made by now, and we will see if the highs have already been made. Over the last two trading sessions the June’25 Fats are 2.87 ½ lower and the May’25 Feeders are 4.25 lower. We could see a continued selloff in the Feeders after the March’25 contract expires in 3 days on Thursday the 27th. I still like the 190 level in the June Fats and the 260-265 range in the May’25 Feeders. The June’25 Hogs had a rough day today and are now 3.32 ½ lower of the last five trading days. The June’25 Hogs dropped 1.67 ½ today and settled 27 cents below the 200-Day moving average of 96.07, and 25 cents below the 50% retracement from the 52-week high/low of 96.05.
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I see two big trades for this year. You are watching the Natural Gas trade unfold now, with much more upside to come in my opinion. The second is the Soybean Oil. It has been knocked down, and I feel it is ready to shoot much higher. Timing is everything, and there is still time to take advantage of both markets now. The first step is calling me and opening an account. TAKE ADVANTAGE OF THE BREAK IN NATURAL GAS
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The Grain Markets were mixed today, with the Corn closing a little cent higher. May’25 Soybeans were 2 ½ cents lower today and settled at 1007 ¼. Today’s high was 1011 ½ and the 1-month high is 1053 ¼. Today’s low was 1003 ¼ and the 1-month low is 991. Since 2/24 May’25 Soybeans are 40 ¼ cents lower or almost 4%. The Corn market gained again today. May’25 Corn was ¼ of a cent higher today and settled at 464 ½. Today’s high was 466 ¼ and the 1-month high is 500. Today’s low was 459 ½ and the 1-month low is 442 ½. Since 2/24 May’25 Corn is 32 ½ cents lower or more than 6%. The Wheat Market took a hit today. May’25 Wheat was 10 cents lower today and settled at 548 ¼. Today’s high was 563 and the 1-month high is 695. Today’s low was 542 ¼ and the 1-month and 52-week low is 530. Since 2/24 May’25 Wheat is 45 ¼ cents lower or more than 7%. I think we can see the Grains start to rally again from here. There is a real possibility the Midwest could remain dry before planting. If that were to occur it would be the lead story in the Grain Markets. South America will still produce a record crop, but I am anticipating a trade deal with China, sooner than later. A trade deal, combined with drought conditions would cause a surge in the price of all grains. I still like the Beans around the 1050 area for starters. The 1-month high in the May Beans is 1053 ¼ and the 200-Day moving average sits just below that at 1053. The Corn stayed positive today and I feel we will see higher prices over the next few months. Today’s high of 466 ¼ was just short of the 50% retracement from the 52-week high/low of 466 ½, and the 100-Day moving average is 467. If May’25 Corn trades through those levels, and I think they can, then 500 looks like the next target level. The Wheat has traded as the Wheat does, irrationally, but I think there is much more upside to come. If the Wheat does rally the 100-Day moving average for May’25 Wheat is 569 ½, and the 50-Day is 570 ¾. I feel we can see the May’25 Wheat trade through those levels and reach the 200-Day moving average of 591 and the 1-month high of 595 ¾. The Soybean Oil is still one of my favorite contracts and the May’25 Bean Oil traded strong at the end of the day. I feel we can see it trade much higher from current levels. The September’25 Soybean Oil was 0.14 higher as well today and settled at 42.79. I feel we can take out the 1-month high of 46.98 and the 52-week contract high of 48.76. Palm Oil is too expensive, and the switch to Soybean Oil has already begun. There is also a possibility used cooking oil from China could be phased out in a trade deal with China or banned if no trade deal is reached. It will be interesting to watch, and I love being long from here. Take advantage of it now, and trade something out of your comfort zone. I have limited risk trades ready to go, in multiple months, just give me a call. There are New Corn Calls Spreads below as well. Have a great night.
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Updated Today 3/24/25 Corn Call Spreads Below
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August’25 Natural Gas 5-Year Chart Below.
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September’25 Soybean Oil 5-Year Chart Below.
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Updated Today 3/24/25 December’25 Corn Call Spreads Below
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Thank you to all of my Canadian Customers. If you live in Alberta or Ontario, you are able to open an account in the USA. Hopefully we can work with the Province of Saskatchewan, and all Canandian Provinces soon. Your ability to open an account in the US is blocked by your Provincial Governments, not by the United States.
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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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Most Recent Walsh Gamma Trader Link Walsh Gamma Trader
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Bill Allen
Vice President
Pure Hedge Division
Direct: 312-957-8079
WALSH TRADING INC.
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Suite 540 Chicago, Illinois 60606
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