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.
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Naomi Blohm with Total Farm Marketing says the technical action is feeling like the market is probing for a low.
Brad Kooima with Kooima Kooima Varilek says the charts look positive but he thinks a healthy correction is in store. He’s also skeptical about USDA’s new cash report.
DuWayne Bosse of Bolt Marketing says the managed money traders have hit the sell button with charts taking out key support and they may not stop until harvest reaches 60% to 70% done.
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