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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Shawn Hackett with Hackett Financial Advisors says the market was removing China premium after the disappointing summit as the market wanted more details on ag purchases.
Scott Varilek with Kooima Kooima Varilek says cattle futures are back trading higher with their huge discount to the record cash trade. He says cash trade could get even crazier.
Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
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