Livestock see 2-sided trade early with a little consolidation. Cattle futures are still at a discount to last week’s cash which is supportive as well as higher boxed beef. However, Brad Kooima of Kooima Kooima Varilek thinks cash many only be steady this week after last week’s record. Hogs are trying to bottom but June needs to close higher today to confirm.
2-Sided Trade in Livestock, Will it be Another Record Week for Cash Cattle? Some Consolidation in Grains
2-Sided in livestock with some consolidation. Will cash be higher again this week? Are hogs trying to bottom? Some profit taking and spread unwinding in corn. More with Brad Kooima, Kooima Kooima Varilek.
April 18, 2023 09:28 AM
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DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
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