6/10/25
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The Livestock Markets were mixed today, with the Fats and Feeders closing in the opposite direction. The Fats traded close to the contract high today. August’25 Live Cattle were 1.05 lower today and settled at 218.20. Today’s high was 219.32 ½ and the 1-month and contract high are 220.05. Today’s low was 210.07 ½ and the 1-month low is 205.32 ½. Since 5/9 August’25 Live Cattle are 8.57 ½ higher or just over 4%. The August’25 Feeders made another new contract high today. August’25 Feeder Cattle were 1.50 higher today and settled at 313.15. Today’s high was 314.20 and that is the new 1-month and contract high as well. Today’s low was 310.02 ½ and the 1-month low is 293.05. Since 5/9 August’25 Feeder Cattle are 12.80 higher or more than 4%. The Hogs had another gain today. July’25 Hogs were 1.00 higher today and settled at 108.20. Today’s high was 108.42 ½ and that is the new 1-month and contract high. Today’s low was 107.00 and the 1-month low is 100.75. Since 5/9 July’25 Lean Hogs are 7.82 ½ higher or almost 8%. The Cattle Markets had an interesting day trading all over the place. Today’s trade did show how quickly the Fats and Feeders can break when the sell button is pushed. Just imagine what will happen when the panic button is pushed. The August’25 Fats traded to within 72 ½ cents of the contract high of 220.05 today but fell from there and closed over a dollar lower on the day. I still like the 190 level in the August’25 Fats. The Feeders were all over the place today, with an intraday day couple dollar break, but rebounded and made new contract highs, then closed more than a dollar off the highs. The Cattle on Feed Report is one week from Friday, on the 20th. We will see if there are any surprises in that report as well. The US Southern border was closed to Cattle form Mexico on May 11th, and it was reported that it will be reevaluated month to month, so we could be getting a new update soon as well. A 10% break in the August’25 Feeders would put the price at 281.70, and I still like prices below that. The Hogs have been very strong and gained another buck today, as they set a new contract high at 108.42 ½, in the July’25 contract month. All of the moving averages are about 8 dollars lower, and I feel that is the mostly likely direction from here, unless they decide to compete against the Cattle in the insanity pricing games. There are November’25 Feeder Cattle Trades/Hedges below. Be Safe.
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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 any pullbacks in these markets. NOW IS THE TIME TO OPEN AN ACCOUNT. Sign Up Now
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The Grain Markets were mixed as well today, with the Corn looking good. The Beans closed higher again today. July’25 Soybeans were 1 ¾ cents higher today and settled at 1057 ¾. Today’s high was 1063 ¾ and the 1-month high is 1082. Today’s low was 1055 ¾ and the 1-month low is 1032 ½. Since 5/9 July’25 Soybeans are 6 cents higher or more than ½%. The Corn Market looked ready to trade higher again. July’25 Corn was 5 ¼ cents higher today and settled at 438 ¾. Today’s high was 439 ½ and the 1-month high is 464 ¾. Today’s low was 429 ¼ and that is the new 1-month low as well. Since 5/9 July’25 Corn is 11 cents lower or more than 2%. The Wheat Market traded lower today. July’25 Wheat was 7 ½ cents higher today and settled at 534 ½. Today’s high was 542 and the 1-month high is 557 ¾. Today’s low was 530 ¾ and the 1-month and contract low are 506 ¼. Since 5/9 July’25 Wheat is 12 ¾ cents higher or almost 2 ½%. The Grains have been stuck in limbo, and drifting lower, waiting for trades deals to be finalized, without much Bullish news. That could all change very quickly. The US is in the second day of trade negotiations with China and reports so far have been positive. A signed trade deal with China will be a game changer and I feel we are getting closer to seeing that happen. The Grain Markets are near or made new contract lows today and I feel the easiest way forward is higher. I recommend getting long all the Grains now in the August’25 or September’25 contract months. I also recommend locking in your feed cost at these price levels. The September’25 Corn 500 Calls settled at 3 3/8 and the 550 Calls settled at 1 5/8. The 500/550 Call Spread is 1 ¾ cents or just $87.50, plus fees and commissions, with the potential to make $2,500.00/Spread if the Corn rallies like I feel it can. September’25 Corn Options Expire on 8/22/25 (73 Days). The July’25 Grain Options expire in seven trading days on Friday 6/20. There are plenty of Calls you could buy if you wanted to take a shot at a big rally, otherwise I would stick with August’25 or September’25. I still feel we can see the July’25 Beans trade up to the 1100 level, July’25 Corn up to the 480-500 level and the July’25 Wheat up to the 580-600 level quickly. Buy them when you can, not when you have to. The WASDE Report is this Thursday on the 12th and there could be some surprises in there as well. Give me a call with any questions. Have a great night.
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November’25 Feeder Cattle Trades/Hedges Below
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50-Year Cattle Chart Below. Whenever it Breaks it Will Be a Spectacular Collapse.
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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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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.
311 South Wacker Drive
Suite 540 Chicago, Illinois 60606
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