3/31/25
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The Livestock Markets were all lower today, but not that much. The June’25 Fats closed 1.00 off the high today. June’25 Live Cattle were 1.20 lower today and settled at 203.65. Today’s high was 204.65 and the 1-month and contract high is 207.30. Today’s low was 202.55 and the 1-month low is 185.00. Since 2/28 June’25 Live Cattle are 14.97 ½ higher or almost 8%. The Feeders closed a little more than buck off the highs today. May’25 Feeder Cattle were 67 ½ lower today and settled at 284.50. Today’s high was 285.65 and the 1-month and 52-week contract high is 290.62 ½. Today’s low was 282.25 and the 1-month low is 265.20. Since 2/28 May’25 Feeder Cattle are 13.67 ½ higher or more than 5%. The Hogs were weaker as well today. June’25 Lean Hogs were 50 cents lower today and settled at 95.27 ½. Today’s high was 96.52 ½ and the 1-month high is 99.70. Today’s low was 93.70 and the 1-month low is 92.00. Since 2/28 June’25 Lean Hogs are 50 cents higher or about ½ %. Well, there was no great sell off as the first quarter of the year comes to a close. The Funds are still long and have time to roll into the next month or liquidate by the end of next month. I guess the balance sheet looks good enough already. We will see how the Livestock Markets react tomorrow morning. I am not changing now and am still Bearish. For the June’25 Fats my target level has not changed, and I like the 185 level. On the way there, the June’25 Fats will need to trade through the 50% retracement from the 52-week high/low of 188.77 ½. The 200-Day moving average is 185.63 and the 1-month low is 185. The May’25 Feeders traded down to 282.25 this morning, but it was able to climb back up throughout the day. I feel the Feeders are still vulnerable to a considerable break in the market if spooked or if the Fats start to sell off. I still like the 260-265 level in the May’25 Feeders. The 1-month low is 265.20 and the 50% retracement from the 52-week high/low is 259.82 ½. The June’25 Hogs traded the 50% retracement from the 52-week high/low of 96.05 and the 200-Day moving average but were unable to hold those levels and sank below them the rest of the day. If the June’25Hogs can climb back above and hold those level, then they could head toward the 100-Day moving average of 100.09. Tomorrow we will see if the Cattle Markets can hold these levels at the start of the new month.
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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. Great Opportunity to Buy the Soybean Complex Today. Natural Gas Continues to Rally
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The Grain Markets were mixed today, with the Wheat leading the way higher. The Beans traded lower today. May’25 Soybeans were 8 ¼ cents lower today and settled at 1014 ¾. Today’s high was 1031 ½ and the 1-month high is 1036 ½. Today’s low was 1013 ¼ and the 1-month low is 991. Since 2/28 May’25 Soybeans are 11 cents lower or just over 1%. The Corn settled 2 cents off the high today. May’25 Corn was 4 cents higher today and settled at 457 ¼. Today’s high was 459 ¼ and the 1-month high is 477 ½. Today’s low was 444 and the 1-month low is 442. Since 2/28 May’25 Corn is 12 ¼ cents lower or more than 2%. The Wheat Market traded higher today. May’25 Wheat was 8 ¾ cents lower today and settled at 537. Today’s high was 539 ¼ and the 1-month high is 575 ¼. Today’s low was 523 ½ and the 1-month, and 52-week contract low is 517 ½. Since 2/28 May’25 Wheat is 18 ¾ cents lower or more than 3%. The Grains traded in different directions right after the Acreage and Stocks Report was released this morning. For the Soybeans the planting acreage was down 4%, but the stocks were 4% higher. The Corn had planting acreage up 5%, but stocks were down 2%. The planting acreage for Wheat is down 2%, and the stocks were 14% higher than last year. I have been Bullish the Grains for a while now, and that is why I have been sending out call spread recommendations in the Corn, Soybeans and Wheat. All of those spreads are still listed below. I am still Bullish the Grain Markets and feel we could see great price action to the upside over the next few months. I feel the Soybean Complex as a whole was a buying opportunity today. I believe we can see 1100 Soybeans, 550 Corn, and 650 Wheat soon. If there are more cuts to the South American crops it is bullish, even as Brazil will produce a record crop. If there is a lack of rain in the Midwest before, during and after planting it is Bullish, and if there are any trade deals reached with China or others, it will be Bullish. The Soybean Oil stocks are very low, and refiners are switching from expensive Palm Oil to Soybean Oil. Last week’s exports showed Bean Oil exports 50% higher than the highest estimate. I feel this is still the beginning of the Soybean Oil rally, which will help support the entire Soybean Complex. For the May’25 Soybeans the 50% retracement from the 52-week high/low is 1096, not too far from 1100. The May’25 Wheat has a 50% retracement from the 52-week high/low of 644 ½, not far from 650. The Wheat planting will be the second smallest Wheat crop planted since 1919. If there is any international instability or weather problems, the Wheat can shoot to the moon after just setting a contract low of 517 ½ in the May’25 contract on Friday. Cotton planting numbers are down 12% as well. The Natural Gas Market is climbing again, and if it starts getting hot sooner than later, that will support the Natural Gas Market as well. I feel there is incredible upside potential for Natural Gas in the Next 12-24 months. Sign up using one of the links for more information or just give me a call.
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I still recommend all of the Corn, Soybean, and Wheat Call Spreads Below. They are working as well.
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July’25 Wheat Call Spreads Below:
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July’25 Soybean Call Spreads Below:
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December’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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July’25 Soybean Call Spreads Below:
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December’25 Corn Call Spreads Below: Updated 3/24/25
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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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Give me a call if you have any questions.
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Bill Allen
Vice President
Pure Hedge Division
Direct: 312-957-8079
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