Cattle open strong with more new contract highs in fed and feeders following higher cash trade, but keeping an eye on debt ceiling talks. Hogs gap lower into contract lows again. Grains are mixed with corn up slightly on weather and despite poor exports. Soybeans have been a reluctant follower. Scott Varilek, Kooima Koomia Varilek.
Cattle Make New Highs Following Strong Cash, But Hogs Gap Into Contract Lows: Grains Mixed on Weather and Exports
Cattle open strong with contract highs following higher cash trade. Hogs gap lower into contract lows again. Grains are mixed watching weather and exports. Scott Varilek, Kooima Koomia Varilek.
May 25, 2023 09:11 AM
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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.
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