Cattle open lower with a negative reaction to the COF report. Was it really that bearish and will weather and higher cash trump it? Hogs react to USDA numbers with a slightly larger inventory. Grains open higher then turn mixed assessing weekend rains in Brazil and seeing end of year positioning. Brad Kooima, Kooima Kooima Varilek, has more.
Cattle and Hogs Initially React Negative to USDA Reports, Then Bounce Off Lows: Grains Turn Mixed
Cattle open lower but off lows. How bearish was the COF and will weather, higher cash trump it? Hogs down w/slightly larger herd. Grains open higher then turn mixed. Brad Kooima, Kooima Kooima Varilek, has more.
December 26, 2023 03:06 PM
Related Stories
Scott Varilek with Kooima Kooima Varilek says the feeder cattle ran into the 50% retracement level on some contracts and saw profit taking. However, higher cash feeders have helped the rally this week.
The grains ended lower on Thursday with across the board selling pressure tied to new 19-month highs in the U.S. dollar index according to Rich Nelson of Allendale, Inc.
Brady Huck with Empower Ag Trading says cattle have had a nice recovery after losses the last two weeks but are running into retracement areas on the charts. Grains are also into resistance
Read Next
First-time detections in Iowa and Alabama highlight the importance of accurate identification and proactive seed treatment strategies.
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.
