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
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.
Allison Thompson with The Money Farm says the failure was likely position squaring heading into the three day holiday plus markets ran into chart resistance and saw some profit taking.
Read Next
Analysis of 2023–2025 prices found U.S. growers paid more for nearly every seed and crop protection category examined.
