Cattle open strong following higher cash in the north at $254 and $160. Hogs mixed still trying to bottom with the cash index slowly improving. Corn and soybeans bounce with strong cash basis and following SA weather and higher crude oil prices. Scott Varilek of Kooima Kooima Varilek has details.
Cattle Strong Following Higher Cash: Grains Up on Corrective Buying, SA News, Crude Oil Supportive
Cattle strong w/higher cash of 254/160. Hogs mixed with the cash index slowly improving. Corn, soybeans supported by strong cash, SA weather, higher CO. Scott Varilek of Kooima Kooima Varilek has more.
February 10, 2023 09:10 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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