1/3/24
The Livestock and Grain Markets were mixed today, in a relatively unexciting trading day, compared to recent history. February’24 Live Cattle were 0.075 lower today and settled at 171.850, just below today’s high of 171.950. The 1-month high is just above that at 172.650. Since 12/1 February’24 Live Cattle are 2.800 higher, or over 1 ½%. The Feeders had a small gain today. March’24 Feeder Cattle gained 0.575 today and settled at 227.025, just below today’s high of 227.250. The 1-month high is just above that as well at 227.925. Since 12/1 March’24 Feeder Cattle are up 9.775 or 4 ½%. The Hogs lost again today. February’24 Lean Hogs were 0.025 lower today and settled at 65.300. Today’s low of 64.575 in the Hogs is also the 1-month and 52-week low as well. Since 12/1 February’24 Lean Hogs are down 4.675 or almost 7%. The Soybeans and Corn Markets had small gains today, as the Wheat Market set a new 1-month low. March’24 Soybeans gained 3 ½ cents today and settled at 1277. Today’s low of 1265 ¾ is also the 1-month low. Just another friendly reminder that the 52-week low is 1145 ¼. Since 12/1 March’24 Soybeans have dropped 68 ½ cents or just over 5%. March’24 Corn was 1 ½ cents higher today and settled at 465 ¼, just below today’s high of 466. Today’s low of 461 ¾, is the 1-month and 52-week low as well. Since 12/1 March’24 Corn is down 19 ½ cents or just over 4%. The Wheat Market was able to close above the $6.00 level, but not by much. March’24 Wheat was 6 ½ cents lower today and settled at 600 ¼. Today’s low of 598 ¼ is also the new 1-month low. Since 12/1 March’24 Wheat is down 2 ½ cents or almost ½%. Today I structured Option Trades in July’24 Soybeans, that expire on 6/21/24, (170 Days). All four of the trades had a credit and were structured for a continued Soybean market break. If you are interested in learning how I put the trades together or would like trades tailored to your specifications, give me call. I still feel that the Soybean and Cattle Markets are going to head lower. If I see something to change my mind, I will post it here. I still recommend hedging in July’24 Soybeans as soon as possible. If you are not being advised properly and would like guidance through these markets and would like an opportunity to start capitalizing on these market moves, give me a call.
-Bill
I have Option Strike prices every Friday.
I have market commentary and option charts in Pure Hedge – Livestock
and Pure Hedge – Grain at WWW.WALSHTRADING.COM
Call for specific trade recommendations.
1-312-957-8079
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Bill Allen
Senior Account Executive
Direct: 1 312 957 8079
WALSH TRADING INC.
53 West Jackson Boulevard, Suite 750
Chicago, Illinois 60604
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