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Grains and hogs were under pressure on economic and political concerns regarding China and more favorable weather. Cattle scored new highs for the move. Analysis with Chip Nellinger of Blue Reef Agri-Marketing.
AgDay launched in 1982 by satellite on a handful of local affiliates. Today, viewers watch the agriculture news program on 121 affiliate stations and RFD-TV, reaching more than 53 million viewers each year.
Markets mostly lower except cattle. Grains see follow through technical selling and weather weigh on market. Chart action brings funds into cattle market plus higher cash ideas.
The Inflation Reduction Act has been passed by both the Senate and House. The $740 billion bill contains several components that are favorable for agriculture.
Grains see follow through selling, while livestock start higher then turned mixed with a nice rally in cattle.
Are U.S. crops getting smaller and is that enough of a catalyst to get the funds to come back in to buy commodities? Will the historical cotton abandonment in the WASDE push the market back to contract highs?