Cattle try to add to gains after strong chart action Wednesday and higher $174 southern cash, but the market is awaiting more volume. Hogs see chart breakout with China news pushing the market. Corn and beans see profit taking with weak exports. Scott Varilek, Kooima Kooima Varilek, has more.
Cattle and Hogs Try to Extend Gains After Chart Break Out: Corn and Beans See Profit Taking
Cattle try to extend gains after strong chart action awaiting cash. Hogs see follow through buying on China news. Corn & beans see profit taking w/weak exports. Scott Varilek, Kooima Kooima Varilek, has more.
January 25, 2024 12:59 PM
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Mark Knight of Farmers Keeper Financial says the market was looking for confirmation of China soybean purchases and now will need to see more sales to continue the rally.
November soybeans failed to close above the key $12 level and Naomi Blohm of Total Farm Marketing thinks the market may be running out of runway as Monday was mostly technical buying.
Joe Kooima of Kooima Kooima Varilek says funds continue to pressure the cattle futures and he anticipates that will continue after last week’s lower weekly closes.
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