1/24/24
The Livestock and Grain Markets all closed positive today. April’24 Live Cattle gained 0.525 today and settled at 178.350, just below today’s high of 178.425, which is also the 1-month high. Today’s low was 177.450 and the 1-month low is 171.075. Since 12/22 April’24 Live Cattle are up 6.250 or more than 3 ½%. The Feeders had a small gain. March’24 Feeder Cattle gained 0.125 today and settled at 233.775, just above today’s low of 233.275. Today’s high and the 1-month high is 235.425. The 1-month low is 221.100. Since 12/22 March’24 Feeder Cattle are 9.375 higher or over 4%. The Hogs had another nice gain today. April’24 Lean Hogs gained 1.700 today and settled at 82.025. Today’s high and the 1-month high is 82.200. the 1-month low and the 52-week low is 71.700. Since 12/22 April’24 Lean Hogs are 4.450 higher or over 5 ½%. The Grain Markets all closed higher today, led by the Wheat. March’24 Soybeans were ¾ of a cent higher today and settled in the middle of today’s trading range at 1240 ¼. Today’s high was 1246 and today’s low was 1235 ¼. The 1-month low is 1201. Today’s settlement price is still less than a dollar from the 52-week low of 1145 ¼. Since 12/22 March’24 Soybeans are 66 cents lower or just over 5%. The corn Market had a nickel plus gain today. March’24 Corn gained 5 ¾ cents today and settled at 452 ¼, just below today’s high of 452 ¾. Today’s low was 446 ¼. The 1-month and 52-week low is 436 ¾. Since 12/22 March’24 Corn is 21 cents lower or almost 4 ½%. The Wheat Market had a nice gain today. March’24 Wheat gained 14 ¼ cents today and settled at 610 ¾, not far from today’s high of 612 ¼. Today’s low was 596 ½, and the 1-month low is 573 ¼. Since 12/22 March’24 Wheat is 5 ½ cents lower or almost 1%. The Livestock Markets have had a nice bounce lately, but I still favor the downside. I believe the Cattle Markets will turn around soon and head lower again for a few months. I still feel that the Soybeans will break from here. This rally seems to be about the dry weather in Brazil, and today they did not take any estimates out of the Beans. If the weather pattern changes, I feel the Beans will continue to dive lower. I will be at Cattle-Con in Orlando next week. If you would like to meet there give me a call.
-Bill
312-957-8079
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1-312-957-8079
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Bill Allen
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Direct: 1 312 957 8079
WALSH TRADING INC.
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