Grains end lower Friday with risk off in outside markets including a surge in the dollar and lower crude oil, poor weekly exports and hedge pressure also weighed on the market. Cattle ended lower, a disappointment after the highest cash trade levels since 2015, while hogs were mostly higher on technical buying and export demand. Michelle Rook gets analysis with Mark Schultz of Northstar Commodity.
Grains End Lower on Higher Dollar and Poor Exports: Cattle Disappoint After Cash High for Year, While Hogs Get an Export Boost
Grains end lower with risk off outside markets and poor weekly exports. Cattle failed to rally on higher cash, while export demand supported hogs. Michelle Rook talks to Mark Schultz of Northstar Commodity.
October 14, 2022 02:10 PM
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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.
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