Grain markets end mostly higher Friday on end of month profit taking but post lower weekly closes. Is the fund/technical selling over? Cattle consolidate but held up well with some weaker cash on a limited test. Are hogs bottoming? Bryan Doherty @TotalFarmMktg has more.
Grains End Mostly Higher After A Tough Week but are Funds Done Selling? Cattle Consolidate with Weaker Cash, With Hogs Higher
Grain markets end mostly higher Friday on end of month profit taking. Is the fund selling over? Cattle consolidate with weaker cash. Are hogs bottoming? Bryan Doherty @TotalFarmMktg has more.
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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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