Grains end higher on Friday and for the week. Is the market confirming a bottom? What could fundamentally change that trend? Cattle are lower for the week, but is there a bigger correction ahead? Hogs slide with increased sow liquidation. John Payne of Hedge Point Global Markets wraps up the week.
Grains Close Higher With Possible Bottom, While Livestock Post a Lower Week
Grains end higher Friday and for the week. Is the market confirming a bottom? A lower week for cattle on consolidation and hogs slide on sow liquidation. John Payne, Hedge Point Global Markets, shares insights.
May 05, 2023 02:26 PM
Related Stories
Shawn Hackett with Hackett Financial Advisors says the market was removing China premium after the disappointing summit as the market wanted more details on ag purchases.
Scott Varilek with Kooima Kooima Varilek says cattle futures are back trading higher with their huge discount to the record cash trade. He says cash trade could get even crazier.
Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
Read Next
Farmers in parts of the High Plains and Southeast need a break from relentless drought, while nationwide planting progress is outpacing the five-year average.
