Cattle seeing some profit taking, but is it just a healthy correction? And will cash cattle continue to move higher this week. Hogs supported by ASF in Hong Kong. Meanwhile soybeans and meal are consolidating, is the bullish SA news dialed into prices? Brad Kooima of Kooima Kooima Varilek has the answers.
Cattle See Corrective Selling, While ASF News Supports Hogs: Soybeans and Meal Consolidate
Profit taking in cattle, but is it just a healthy correction and will cash be higher this week? Hogs supported by ASF concerns. Soybeans and meal consolidate. Brad Kooima of Kooima Kooima Varilek has more.
February 14, 2023 11:24 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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