Pure Hedge - Livestock and Grain

Cattle & Beef - Brown and White Cow


     The Feeders opened about 2 dollars lower this morning, but the Cattle Markets rallied back to close positive on the day. August'24 Live Cattle were $1.67 ½ higher today and settled at 184.82 ½. Today's High was 185.42 ½ and that is the new 1-month high as well. Today's low was 182.50 and the 1-month low is 175.80. Since 5/24 August;24 Live Cattle are $3.70 higher or just over 2%. August'24 Feeder Cattle were 52 ½ cents higher today and settled at 258.90. Today's high was 259.55 and the 1-month high is 264.95. Today's low was 256.12 ½ and the 1-month low was 250.80. Since 5/24 August'24 Feeder Cattle are $1.32 ½ lower or just over ½%. Once again, the Hogs headed lower. August'24 Lean Hogs were $2.60 lower today and settled at 86.72 ½. Today's high was 89.15 and the 1-month high is 97.37 ½. Today's low was 86.27 ½ and that is the new 1-month and 52-week low. Since 5/24 August'24 Lean Hogs are 10.17 ½ lower or 10 ½%. The Cattle on Feed Report was on Friday and showed Placements were 5 ½% higher than expected. That is why the Cattle Market opened lower today. There was no discernible reason for the Cattle to rally back. I still expect a slide lower after the 4th of July weekend, if not tomorrow. The Hogs were hit hard again and settled near their lows. I found a few good Hog trades many months out. 

      The Grains were lower most of the day, and set new 1-month lows, before gaining most of it back before the close. November'24 Soybeans were 10 ½ cents higher today and settled at 1130 ½. Today's high was 1132 ¾ and the 1-month high is 1225. Today's low was 1111 ½ and that is the new 1-month and 52-week low. Since 5/24 November'24 Soybeans are 89 cents lower or close to 7 ½%. December'24 Corn was much lower today but bounce off the bottom. December'24 Corn was 1 ½ cents lower today and settled at 451 ¾. Today's High was 455 and the 1-month high is 493. Today's low was 443 and that is the new 1-month and 52-week high as well. Since 5/24 December'24 Corn is 36 ½ cents lower or almost 7 ½%. The Wheat Market followed the same pattern. September'24 Wheat weas 4 ¾ cents lower and settled at 571. Today's high was 579 and the 1-month high is 739 ¼. Today's low was 564 ¼ and that is also the new 1-month low. Since 5/24 September'24 Wheat is $1.46 ½ lower or almost 21%. The Soybeans were lower this morning but rallied almost 20 cents after making a new 1-month and 52-week low. Soybean Meal was strong, and that pulled the Beans up with it. Soybean inspections are poor as well, down over 16% from last year. The Corn Market should have rallied more than it did today. There is significant flooding in Minnesota and Western Iowa. September'24 Corn bounced 9 cents after making new contract lows, but still settled a penny lower for the day. I still feel the Soybeans are heading lower, and this should be a selling opportunity. I believe we will see the Corn Market higher tomorrow, and after the Acreage Report on Friday. I highly recommend buying Corn.







I have market commentary and option charts in 

Pure Hedge – Livestock

Pure Hedge – Grain   



Call for specific trade recommendations.




Email me for free research. 


Bill Allen

Senior Account Executive

Direct:      1 312 957 8079



53 West Jackson Boulevard, Suite 750

Chicago, Illinois 60604


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.

On the date of publication, Bill Allen did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.