Grains pushing higher with end of week corrective buying, but still keeping an eye on outside markets with this mornings Jobs Report hitting the equities, slow exports still a concerns with low Mississippi River issues. Hogs are seeing profit taking, with lower cash and live cattle finally respond to higher cash. Michelle Rook talks with Jim McCormick of AgMarket.Net.
Grains and Live Cattle Higher on End of Week Corrective Buying: Hogs See Profit Taking
Grains push higher with end of week corrective buying. Hogs are seeing profit taking, with lower cash and live cattle finally respond to higher cash. Michelle Rook talks with Jim McCormick of AgMarket.Net.
October 07, 2022 11:30 AM
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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.
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