Cattle open lower with the risk off in outside markets then quickly rebound on technical buying and with firmer cash. Hogs see follow through technical buying. Risk off in outside markets, weather, planting pace cause profit taking in grains. Brad Kooima of Kooima Kooima Varilek has more.
Cattle 2-Sided in Risk off Day, Hogs Higher with Stronger Cash: Profit Taking Hits Grains
Cattle 2-sided with firm cash vs. risk off. Hogs see follow through technical buying. Risk off in grains, weather, planting pace cause profit taking. Brad Kooima of Kooima Kooima Varilek.
May 16, 2023 09:24 AM
Related Stories
Garrett Toay with AgTraderTalk says after the big rally to start the week the grain markets saw some profit taking and corrective selling.
DuWayne Bosse of Bolt Marketing says the wheat market was trying to extend gains early Thursday but may be getting close to pricing the Black Sea export disruptions in.
Oliver Sloup Blue Line Futures, says wheat prices skyrocketed adding risk premium on concerns about the escalating Black Sea war and the disruptions it is causing in the export market. It could have more upside left.
Read Next
Brooke Rollins’ intent addresses a paramount question of U.S. national food security: Who decides what a crop is worth?
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
