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
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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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