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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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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