Cattle rally with higher cash up to $173, even a few $174 last week and adding some weather premium. Hogs mixed. Grains fall with improved SA weather, soybeans take out October lows. Scott Varilek, Kooima Kooima Varilek, has more.
Cattle Rally with Higher Cash, Hogs Mixed: Grains Lower with Soybeans Taking Out October Lows
Cattle rally with cash up to $173, few $174 last week and adding weather premium. Hogs mixed. Grains fall with improved SA weather, beans take out Oct. lows. Scott Varilek, Kooima Kooima Varilek, has more.
January 02, 2024 09:15 AM
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Grain markets were lower on Wednesday and to start Thursday, seeing profit taking after hitting key chart resistance and with cooler, wetter extended weather forecast for the Midwest. That’s according to Randy Martinson with Martinson Ag.
Live cattle futures were lower again on Wednesday and have spent several consecutive days under the 100-day moving average. Brad Kooima with Kooima Kooima Varilek says it is looking like more than a healthy correction.
Mark Knight of Farmers Keeper Financial says the market was looking for confirmation of China soybean purchases and now will need to see more sales to continue the rally.
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