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
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Shawn Hackett with Hackett Financial Advisors says the market was removing China premium after the disappointing summit as the market wanted more details on ag purchases.
Scott Varilek with Kooima Kooima Varilek says cattle futures are back trading higher with their huge discount to the record cash trade. He says cash trade could get even crazier.
Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
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