Corn and beans see a dead cat bounce Friday but are both lower for the week and so is wheat as fund sold and took out weather and war premium. Cattle see a strong close Friday and for the week with some limited but higher northern cash. Hogs have a lower weekly close, so is that confirming a top? Mark Schultz, Northstar Commodity has more.
Dead Cat Bounce Friday in Row Crops But All the Grains Lower for the Week: Cattle Higher Following Cash
Row crops bounce Friday but all the grains are lower for the week and so are hogs. Cattle close strong Friday and for the week on the heels of better Northern Cash. Mark Schultz, Northstar Commodity explains.
August 04, 2023 02:37 PM
Related Stories
Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
Read Next
Passing the farm to the next generation takes more than deciding who gets what. The right estate plan can help avoid family conflict, unexpected costs and headaches down the road.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
