Markets continue mixed at midday. Profit taking a feature plus spillover with a risk off outside market environment due to the disappointing CPI impacting the commodity sector and fear of a rail strike. Livestock are also seeing cattle hog spreading amid a more favorable outlook for cash cattle this week. Michelle Rook gets an update from Brad Kooima of Kooima Kooima Varilek.
Grain and Livestock Mixed: Risk Off Outside Markets on CPI and Rail Strike Feature Trigger Profit Taking in Cattle and Row Crops
Markets continue mixed with profit taking and spillover from outside markets on the CPI news. Livestock are seeing cattle hog spreading. Michelle Rook gets an update from Brad Kooima of Kooima Kooima Varilek.
September 13, 2022 02:54 PM
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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.
Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
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