Cattle correcting today and the top may be in short term according to Brad Kooima of Kooima Kooima Varilek. What will cash trade do this week? Has the hog rally run its course? Corn and soybeans up on the lower crop ratings and weather, plus the rally in soybean oil. However, how much upside is there?
Cattle and Hogs Correcting but Will it Continue? Corn and Soybeans Rally on Drop in Ratings and Weather
Cattle correcting today and the top may be in short term says Brad Kooima of Kooima Kooima Varilek. What will cash do this week? Has the hog rally run its course? Corn, beans rally on drop in crop ratings, weather.
June 13, 2023 09:26 AM
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Scott Varilek with Kooima Kooima Varilek says the cattle futures rally out of the report was disappointing and did not last long indicating a possible exhaustion on the charts.
Shawn Hackett of Hackett Financial Advisors says with wheat falling nearly $2 off the Sept. 2 contract highs, it isn’t a surprise that China and other buyers would see it as an opportunity to buy.
Darin Newsom, senior market analyst with Barchart, says the funds set the direction of the trend the problem is they have skewed the markets to the point that the real fundamentals in agriculture don’t really matter.
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