Pure Hedge - Livestock and Grain

12/15/23

       The Livestock and Grain Markets all closed higher today. February'24 Live Cattle gained 1.425 today and settled at 169.350, just below today's high of 169.750.  This week the February'24 Live Cattle gained 3.625 or over 2%. However, Since 11/15 February'24 Live Cattle are down 9.425 or over 5%. March'24 Feeder Cattle were 2.050 higher today and settled at 222.175, just below today's high of 222.675. This week The Feeders were up 6.100 or almost 3%, but since 11/15 Feeders are down 11.325 or almost 5%. The Hogs continued to gain today. February'24 Lean Hogs gained 1.425 today and settled at 71.900, almost at the session high of 71.975. This week the Hog are up 2.925 or over 4%, and since 11/15 Hogs are down 3.00 or over 4%.  The rally this week in the Livestock markets has not changed my market outlook. I still believe the Live Cattle Market is heading lower, toward the 145 level, and the Feeders to the 180 level. The Grain Markets were all higher today. January'24 Soybeans gained 1 ¾ today and settled at 1315 ¾. For the week Beans were up 11 ¾ or almost 1%, but still down 69 ¼ cents or 5% since 11/15. March Corn was 3 ¾ cents higher today and settled at 483, just below today's high of 484. For the week, March'24 Corn is down 2 ½ cents and since 11/15 Corn is down 5 ½ cents or just over 1%. The Wheat Market had a nice gain today. March'24 Wheat was up 13 ½ cents todays and settled at 629 ¼, just below the high of 630 today.  For the week Wheat is down 2 ½ cents, but since 11/15 March'24 Wheat is 41 ¼ cents higher or over 7%. I still feel that the beans are going to break, and that we see $11,50 Soybeans this Summer or Fall, and then head lower from there. 

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.

53 West Jackson Boulevard, Suite 750

Chicago, Illinois 60604

www.walshtrading.com

Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.

Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. The information contained on this site is the opinion of the writer or was obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in market prices. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. 

All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. (“WTI”) shall be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.