4/29/25
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The Livestock Markets were mixed, as the Feeders soared higher. The Fats gained more than half a buck today. June’25 Live Cattle were 60 cents higher today and settled at 210.20. Today’s high was 210.97 ½ and that is the new 1-month, and 52-week contract high. Today’s low was 209.60 and the 1-month low is 191.80. Since 3/28 June’25 Live Cattle are 5.32 ½ higher or almost 3%. The Feeders made another new high today. August’25 Feeder Cattle were 1.95 higher today and settled at 296.90. Today’s high was 297.80 and that is the new 1-month and contract high as well. Today’s low was 295 and the 1-month low is 273.35. Since 3/28 May’25 Feeder Cattle are 7.15 higher or about 2 ½%. The Hogs fell below the 100.00 level today. June’25 Hogs were 1.55 lower today and settled at 99.45. Today’s high was 101.27 ½ and the 1-month high is 101.97 ½. Today’s low was 99.12 ½ and the 1-month low is 88.00. Since 3/28 June’25 Lean Hogs are 3.70 higher or almost 4%. The Cattle Markets made new contract highs again today. The June’25 Fats settled above the 210 level and well above all the moving averages. I still like my same levels, and in the June’25 Fats it is the 190 level. I am also looking for a 10% pull back in the market and that would put the June’25 Fats at 189.20 There is plenty of activity around that level as well, with the 100-Day moving average at 194.97, the 1-month low of 191.80, the 50% retracement from the 52-week high/low of 190.61, and the 200-Day moving average just below at 187.44. The August’25 Feeders traded just 2.20 shy of the 300.00 level and settled just 77 ½ cents below the new contract high of 210.97 ½. I am sure you are waiting to sell at 300.00 level, but if it is higher tomorrow, I would sell it all. There just might be more than one person thinking the same thing. Now the pressure is on for it to trade up to the 300.00 level, and it does not trade up to that level very soon, the market could puke. I would not hold out for the extra 2 or 3 bucks just for the story and possibly end up losing 10.00. I still like the 260-265 level for the August’25 Feeders, and the 50% retracement from the 52-week high/low is 266.96. If there is a 10% pullback in the August’25 Feeders, a $29.69 break would put the August’25 Feeders at 267.21, not far from my 260-265 level, and just 25 cents above the 50% retracement number of 266.96. The June’25 Hogs were knocked lower today after trading to within 70 cents of the 1-month high of 101.97 ½ and settled 2 cents above the 100-Day moving average of 99.43. I still feel that the June’25 Hogs will bounce between the 1-month high of 101.97 ½ and the 50% retracement from the 52-week high/low of 96.05, with the 200-Day moving average sitting just above at 96.68. Tomorrow is the last trading day of the month as well.
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I see two big trades for this year. I still like the Soybean Oil and the Natural Gas. These markets will correct. Take advantage of today’s pullback in the Grains. NOW IS THE TIME TO OPEN AN ACCOUNT.
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The Grain Markets were all lower today. The Beans bounced off the lows today. July’25 Soybeans were 9 ¾ cents lower today and settled at 1052 ¾. Today’s high was 1063 ¼ and the 1-month high is 1067 ½. Today’s low was 1045 ¾ and the 1-month low is 985. Since 3/28 July’25 Soybeans are 15 ½ cents higher or about 1 ½%. The Corn dropped like a rock today. July’25 Corn was 13 cents lower today and settled at 470 ¼. Today’s high was 485 ¼ and the 1-month high is 497 ½. Today’s low was 469 ¾ and the 1-month low is 450 ¾. Since 3/28 July’25 Corn is 10 ¼ cents higher or more than 2%. The Wheat Market fell back as well today. July’25 Wheat was 5 ½ cents lower today and settled at 525 ½. Today’s high was 537 and the 1-month high is 571. Today’s low was 523 ¾ and that is the new 1-month, and 52-week contract low as well. Since 3/28 July’25 Wheat is 17 ¼ cents lower or more than 3%. The Grain Markets provided a buying opportunity late in the day. The July’25 Soybeans settled almost 10 cents lower, but did bounce 7 cents off the low of the day. Early today the July’25 Soybeans traded to within 4 ¼ cents of the 1-month high and then broke from there. Today’s low in the Beans was 1045 ¾ and that is right in between the 200-Day moving average of 1049 ½ and the 100-Day moving average of 1040 ¾. The Beans closed above all of those levels and the important psychological level of 1050. I still like the Beans from here and believe we can see the July’25 contract traded up to the 1103 ¾ level, and that is the 50% retracement from the 52-week high/low. The July’25 Corn got wacked today and did not close very well. The July’25 Corn settled just ½ a cent above the low. Today’s settlement price is 1 ¼ cents below the 50% retracement from the 52-week high/low of 471 ½, with the low of the day 1 ¾ cents below the 50% retracement level. I feel we can see the July’25 Corn rebound from here and head back to the 100-Day moving average of 479 and the 50-Day moving average of 479 ¼. The July’25 Wheat was 6 cents higher this morning before the break. I still like the Wheat, and after making a new contract low today, I feel it can now move much higher. I feel we could see a 50-cent rally in the July’25 Wheat and that would put it at 575 ½. The 100-Day moving average is 570 ¼, and the 1-month high is 571. I still feel we can see the Wheat trade through the 200-Day moving average of 586 and head toward the 50% retracement from the 52-week high/low of 639 ½. I know that is a rally of more than a dollar after making new contract lows, but the Wheat is a different animal and rallied the last time it made a contract low. There are also trade deals on the horizon, and if the world has a hiccup, the Wheat will rally. It is also the second smallest Wheat planting since 1919, so if there are any weather problems it can shoot straight up. I recommend taking advantage of the pullback in the Soybean Oil as well. Give me a call if you have any questions or would like to open an account. Have a great night.
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I appreciate your business.
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I feel the July’25 Soybeans can trade: 11.20 or higher
I feel the July’25 Corn can trade: 5.00 or higher
I feel the July’25 Wheat can trade: 6.50 or higher
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If you don’t like the customer service or personal attention you are receiving at your new and very large brokerage house, you have options, and you don’t have to stay there.
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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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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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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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