Cattle open higher in reaction to USDA’s confirmation of the smallest herd since 1951 and no signs of rebuilding, Hogs break on the open with grains back lower as funds return as sellers. Scott Varilek, Kooima Kooima Varilek, has more.
Cattle Higher in Reaction to Confirmation of Smaller Herd, Hogs and Grains See Fund Selling Return
Cattle open higher in reaction to USDA’s confirmation of a small herd and no signs of rebuilding, Hogs see profit taking, grains back lower as funds return as sellers. Scott Varilek, Kooima Kooima Varilek, has more.
February 01, 2024 09:36 AM
Related Stories
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.
The grain markets were sharply lower Thursday morning with soybeans seeing 30-cent losses on disappointment the China summit has not produced any agricultural purchase agreements.
Sam Hudson with Cornbelt Marketing says corn and soybeans were firmer on inflationary buying and optimism regarding the China summit. Cattle soared with higher cash.
Read Next
The U.S. House approved legislation to allow year-round sales of E15 gasoline nationwide, aiming to lower fuel prices while facing pushback over potential refinery costs and the impact on the national debt.
