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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Chip Nellinger of Blue Reef Agri-Marketing says the soybean complex saw technical selling with funds still holding a sizable long in soybeans and meal.
Joe Kooima of Kooima Kooima Varilek says the bounce in cattle isn’t unexpected as Friday’s selloff may have been overdone and with the financial markets seeing a recovery.
The grain markets saw an ugly October with huge losses on fund selling. Brian Grete with CommStock Investments says he’s not sure if the fund selling is done.
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