6/2/26
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The Livestock Markets were mixed today, with the Fats and Feeders trading lower and the Hogs trading higher after bouncing off a new 1-month low. August’26 Live Cattle were 95 cents lower today and settled at 239.65. Today’s high was 240.42 ½ and the 1-month high is 250.00. Today’s low was 237.02 ½ and the 1-month low is 236.82 ½. Since 5/1 August’26 Live Cattle are 8.02 ½ lower or more than 3%. The August’26 Feeders took a step back today. The August’26 Feeder Cattle were 3.12 ½ lower today and settled at 348.42 ½. Today’s high was 350.35 and the 1-month and contract high are 374.87 ½. Today’s low was 345.00 and the 1-month low is 344.27 ½. Since 5/1 August’26 Feeder Cattle are 23.27 ½ lower or more than 6%. The Hogs bounced off the lows today. July’26 Lean Hogs were 1.80 higher today and settled at 101.65. Today’s high was 101.82 ½ and the 1-month high is 106.30. Today’s low was 98.30 and that is the new 1-month low as well. Since 5/1 July’26 Lean Hogs are 1.87 ½ lower or almost 2%. The Cattle Markets traded lower today, with worries of the screwworm approaching the US border. The closest report of a screwworm I have heard or seen is 31 miles South of the US Border. I still feel the Cattle Markets are a buy, and I bought some futures today in the Feeders. The Stock Markets are at record highs, and the Crude Oil could be breaking shortly. If or when a screwworm is found in the US, I would expect the market to break initially on unnecessary “fear” but then rally back. If Cattle in the US are found to have the screwworm, then all Cattle in that area will be “locked down” and unable to move. It is not clear how big of an area would be locked down, the duration, or what would be needed to lift the lock down. If the area is substantial, then that could cause more strain on a Cattle Market that already has very tight numbers. I am still Bullish the Fats and Feeders and feel we can see higher prices the rest of this week and beyond. The July’26 Hogs rallied 3.35 after setting a new 1-month low today at 98.30. I doubt that the new 1-month low will hold there for very long. I would like to work with you, give me a call.
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Having a Trading or Hedging Account is essential for your business to be successful. Market volatility has increased across all commodities over the last 12 months, and I expect it to continue to increase over the next 12 months as well. Opening an account in the future, will not help you if you need access now. To be successful, you need to be able to manage risk in real time. If you are proactive now, you will have the ability to be reactive when you need to be. You can be Prepared and Patient at the same time. Call me or hit the direct link above.
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The Grain Markets were all lower today, and prices could continue to fall from here. July’26 Soybeans were 15 ½ cents lower today and settled at 1165 ¼. Today’s high was 1182 ¾ and the 1-month high is 1235. Today’s low was 1163 and that is the new 1-month low as well. Since 5/1 July’26 Soybeans are 38 cents lower or more than 3%. July’26 Corn continued lower again today. July’26 Corn was 3 ½ cents lower today and settled at 440 ½. Today’s high was 445 ¾ and the 1-month and contract high are 487 ½. Today’s low was 439 and that is the new 1-month low as well. Since 5/1 July’26 Corn is 39 ¾ cents lower or more than 8%. The Wheat Market also traded lower for the third day in a row today. July’26 Wheat was 5 ¾ cents lower today and settled at 603. Today’s high was 610 ¼ and the 1-month and contract high are 688 ¼. Today’s low was 599 ¼ and that is the new 1-month low as well. Since 5/1 July’26 Wheat is 34 ¾ cents lower or almost 5 ½%. The Grains have all been breaking for a while now, and that is because they should. July’26 Beans have zero business being over or anywhere near 1200. I still feel we can see them trade closer to the 1100 level. The Corn Market kinda did what I thought it would do. I sold the July’26 440 Straddle for 38 cents and today it settled at 17 ¾, and I am expecting it to expire worthless. The Wheat Market finally fell out of bed, and that has been a good trade as I continued to sell it all the way up in the Option Market. I feel we can see the July’26 Wheat trade toward the 580 level. Planting has gone well, and the weather in general has been good. The Brazilian Soybean crop will be a monster, and harvest is nearing completion. They won’t waste any time getting the Corn in the ground as well. It looks like the Wheat will survive as needed rains came for much of the Wheat in drought conditions. I feel this all points to lower grain prices in the near term. We will have to wait and see if the weather continues to cooperate and if it does, we could see much lower Soybean prices. I still like buying November’26 Soybeans and selling July’26 Soybeans. I have new trades in Grain Markets ready to go in the Option Markets. I would like to talk to you about it, give me a call when you have a chance. Have a great night.
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Having a Trading or Hedging Account is essential for your business to be successful. Market volatility has increased across all commodities over the last 12 months, and I expect it to continue to increase over the next 12 months as well. Opening an account in the future, will not help you if you need access now. To be successful, you need to be able to manage risk in real time. If you are proactive now, you will have the ability to be reactive when you need to be. You can be Prepared and Patient at the same time. Call me or hit the direct link above.
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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 Canadian 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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GOD BLESS AMERICA
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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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