Grains ended mixed on Thursday influences by technicals, outside markets and money flow more so than fundamentals. Live cattle traded higher reacting to steady to higher cash trade with $142 paid in the South up $1, feeders failed. However, hogs saw more technical buying on ideas the cash is bottoming. Michelle Rook gets details with Chip Nellinger of Blue Reef Agri-Marketing.
Grains End Lower, Livestock Higher Except Feeders: Money Flow Dominates Trade Over Fundamentals
Grains ended mixed on Thursday influences by technicals, outside markets and money flow. Livestock were mostly higher with stronger cash. Michelle talks with Chip Nellinger of Blue Reef Agri-Marketing.
September 15, 2022 05:44 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
From fragile Wisconsin ground to deep Illinois prairie, Andy Benson and Ryan Frieders are adapting their soil-management practices to keep inputs working effectively, yields improving and their respective farms on course for a brighter future.
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.
