Cattle extend gains after new contract highs, strong beef and record cash, and it could be higher again this week. Hogs see short covering with funds record short. Grains see support from lower than expected crop ratings and a dam that broke in Ukraine that may impact production. Brad Kooima, Kooima Kooima Varilek has more.
Cattle Extend Gains on Record Cash Ideas for This Week, Short Covering in Hogs: Grains Trade Crop Ratings, Ukraine News
Cattle extend gains on record cash and ideas of higher money this week. Hogs see short covering. Grains up on crop ratings and Ukraine concerns. Brad Kooima, Kooima Kooima Varilek.
June 06, 2023 09:50 AM
Related Stories
DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
Read Next
With summer patterns running four weeks behind schedule, meteorologist Don Day urges growers to plan in short windows for the second half of the growing season.
