Relative value between corn and wheat creates repeatable spread opportunities driven by substitution, seasonality, and supply dynamics.
Month end, outside markets, rumors, drive futures lower
WALSH PURE SPREADER - Pure Hedge Division
Lean hog futures saw weaker Friday trade, with contracts down 30 to 45 cents in the nearbys. February was down $1.10 this week. USDA’s national base hog price was reported at $83.57 on Friday afternoon,...
Live cattle futures were weaker on Friday, as most contracts fell 47 cents to $1.75. February was an exception, up 35 cents on cash strength, with the weekly move +95 cents. Cash trade settled in at $238-240...
In my opinion, the inventory report showed us pretty much what was expected. That being, liquidation has been halted with fledgling signs of expansion.
Agricultural Prices - 2026-01-30
Live cattle futures are gaining steam from the cash market, with February up $1.10 at midday. April is up 7 cents with other contracts lower. Cash trade has came in a $238-240 live across the country and...
Lean hog futures are down 10 to 35 cents at midday. USDA’s national base hog price was reported at $83.89 on Friday morning, down 49 cents from the previous day. The CME Lean Hog Index was up another...