4/2/25
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The Livestock Markets were mixed today, with the Cattle making new highs. The June’25 Fats made a new contract high today. June’25 Live Cattle were 1.97 ½ higher today and settled at 207.40. Today’s high was 207.72 ½ and that is the new 1-month and contract high as well. Today’s low was 204.75 and the 1-month low is 185.00. Since 2/28 June’25 Live Cattle are 18.62 ½ higher or almost 10%. The Feeders climbed higher as well today. May’25 Feeder Cattle were 77 ½ cents higher today and settled at 287.92 ½. Today’s high was 288.40 and the 1-month and 52-week contract high is 290.62 ½. Today’s low was 286.02 ½ and the 1-month low is 265.20. Since 2/28 May’25 Feeder Cattle are 16.80 higher or more than 6%. The Hogs gave a little back today. June’25 Lean Hogs were 50 cents lower today and settled at 96.52 ½. Today’s high was 96.75 and the 1-month high is 99.70. Today’s low was 95.22 ½ and the 1-month low is 92.00. Since 2/28 June’25 Lean Hogs are 1.50 higher or about 1 ½ %. The Cattle Markets traded higher again today, and the June’25 Fats made a new contract high at 207.72 ½, so maybe they can break now. The Cattle Markets rallied the last two days as the open interest dropped, signaling the Funds started to sell some of their long position. I still think we can see a break in the Cattle Markets, and if they do break, I like the 190 level in the June’25 Fats. The 100-Day moving average is 191.71, the 50% retracement from the 52-week high/low is 188.98, the 200-Day moving average is 185.84, and the 1-month low is 185. Whenever the Feeders break, it will be ugly, and something remembered forever. In the May’25 Feeders I like the 260-265 level for starters. The 100-Day moving average is 266.45, the 1-month low is 265.20, the 50% retracement from the 52-week high/low is 259.13, and the 200-Day moving average is 256.48. The Hogs were 50 cents lower today, but I think they have upside potential. I feel they will bounce between 96 and 100, and until the market can trade through and hold the 100-Day moving average of 100.07. The 200-Day moving average is 96.19 and the 50% retracement from the 52-week high/low is 96.05. President Trump is speaking now, and before he started speaking the Dow Jones Index was 228 points higher, the S&P was 32 points higher, and the NASDAQ was 136 higher. The three Stock Indexes were much lower in after-hours trading. We will see if the break in the stock markets will push the Funds to start selling faster. It could be a wild end to the week. The June’25 Live Cattle 190 Puts are cheap, and so are the May’25 Feeder 260 Puts. I will be adding them to the Walsh Gamma Trader on Monday.
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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 and it is climbing fast, 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 Again Today. Natural Gas Continues to Rally…
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The Grain Markets were lower today, but not much. The Beans were less than a nickel lower today. May’25 Soybeans were 4 ¾ cents lower today and settled at 1029 ½. Today’s high was 1033 and the 1-month high is 1036 ½. Today’s low was 1024 ½ and the 1-month low is 991. Since 2/28 May’25 Soybeans are 3 ¾ cents higher or fractionally. The Corn settled 3 cents off the high today. May’25 Corn was 4 cents lower today and settled at 457 ¾. Today’s high was 460 ¾ and the 1-month high is 477 ½. Today’s low was 454 and the 1-month low is 442. Since 2/28 May’25 Corn is 11 ¾ cents lower or 2 ½ %. The Wheat Market was slightly lower today. May’25 Wheat was 1 ¼ cents lower today and settled at 539 ¼. Today’s high was 543 and the 1-month high is 575 ¼. Today’s low was 532 ½ and the 1-month, and 52-week contract low is 517 ½. Since 2/28 May’25 Wheat is 16 ½ cents lower or almost 3%. There was not too much action in the Corn, Beans and Wheat, as the Markets were waiting to hear about the tariffs coming out today. I am still Bullish and feel the Grains can rally from here. Brazil’s Soybean production numbers were cut again today, and their stocks were lowered as well. The May’25 Soybeans settled just 3 ½ cents below the 1-month high of 1036 ½ today. I still like the 1050 and then 1100 levels for the May’25 Soybeans. The 200-Day moving average is 1047 ½ and the 50% retracement from the 52-week high/low is 1096. I like the May’25 Corn taking out the 1-month high of 477 ½ and then continuing to 500 and higher. I feel we can see a big move higher in the Wheat Market as well. This will be the second smallest planted Wheat crop since 1919, and that sounds Bullish on its own. I still like the 580 level for starters, and I feel we can see it climb to 650. The 1-month high is 757 ¼, and the 200-Day moving average is 585 ½, and then there is the 50% retracement from the 52-week high/low of 644 ½. I also feel we can see the Soybean Meal gain some momentum as well. The Soybean Oil Market continues to sore, and I feel there is still incredible upside potential. Every contract month made a new monthly high today, and Sep’25, Oct’25, and Dec’25 each set new contract highs. Malaysian Palm Oil was almost 2 ¼% higher is the overnight trade. If that contract continues to climb, then many more will be coming to buy Soybean Oil. In addition to that, it sounds like the Biofuel Coalition will be sitting down with the EPA sometime soon and recommending an increase in the Biofuel Blend Quotas. In the September’25 contract, the Bean Oil was 2.26 higher yesterday and 1.03 higher today, and that is 3.29 over the last two days or almost 6 ¾%. It is up even more in the front month, with May’25 Bean Oil up 3.61 over the last two days or almost 7 ½%. I am still very Bullish, and there are still ways to get long this market now. Let me know if you are interested. Have a great night.
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I still recommend all of the Corn, Soybean, and Wheat 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 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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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
WALSH TRADING INC.
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Suite 540 Chicago, Illinois 60606
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