1/5/24
The Cattle and Soybean Markets continued to slide lower today. February'24 Live Cattle was 0.550 lower today and settled at 170.575, just above today's low of 170.100. The 1-month and 52-week low is 162.400. Since 12/5 February'24 Live Cattle are up 1.400 or almost 1%. The Feeders also slid lower today. March'24 Feeder Cattle were down 1.500 today and settled at 224.150. The 1-month and 52-week low is 210.625. Since 12/5 March'24 Feeders are up 6.700 or just over 3%. The Hogs closed higher on the day. February'24 Lean Hogs were 0.950 higher today and settled at 70.000, just under today's high of 70.500. The 1-month and 52-week low is 64.575. Since 12/5 February'24 Lean Hogs are 0.700 higher or just above 1%. The Soybean Market continued to drop today. March'24 Soybeans fell another 11 ¼ cents today and settled at 1256 ¼, just above today's low of 1255, which is also the 1-month low. Since 12/5 March'24 Soybeans are down 70 ½ cents or almost 5 ½%. Now A Public Service Announcement: The 52-week low is 1145 ¼. The Corn closed lower as well. March'24 Corn slid another 5 ¾ cents today and settled at 460 ¾, just above today's low of 460, which is also the 1-month and 52-week low. Since 12/5 March'24 Corn is 29 ¾ lower or over 6%. The Wheat market had a gain today. March'24 Wheat gained 2 ½ cents today and settled at 616, in the middle of today's trading range. The 1-month low is 591 ¼. Since 12/5 March'24 Wheat is down 15 cents or over 2%. I said not long ago that I expected a 50-cent break in the Soybean market after the first of the year, and it's already here. The Option trade I structured before the end of last year is now in the money, and is up 76 1/8 cents, for just one trade package. Thats $3,806.25 for each time you did the trade. I still think the Soybeans are heading a lot lower. There is still time to catch the rest of the break I feel is coming. I still feel that the Cattle Market will continue to grind lower from here as well. There is always risk in any futures or options trade, as everyone knows. Maybe I see things differently, but I still see opportunity. Call me if you would like to talk about it,
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
1.800.993.5449
Email me for free research.
BAllen@walshtrading.com
Bill Allen
Senior Account Executive
Direct: 1 312 957 8079
ballen@walshtrading.com
WALSH TRADING INC.
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Chicago, Illinois 60604
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