Cattle are making new highs again with lower corn, higher cash ideas and debt ceiling discussions moving forward. Hogs are seeing a corrective bounce. Grains under pressure taking out weather premium and with negative outside markets like the crude oil. Brad Kooima of Kooima Kooima Varilek has more.
Cattle Make New Highs with Strong Cash, Cutouts, Debt Ceiling Movement, Short Covering in Hogs: Grains Remove Weather Premium
Cattle make new highs on lower corn, higher cash ideas and debt ceiling discussions moving forward. Hogs are seeing a corrective bounce. Grains take out weather premium. Brad Kooima of Kooima Kooima Varilek.
May 30, 2023 09:53 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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