Cattle struggle with higher corn and lower beef prices, but what will cash do this week after the resiliency displayed late last week? Hogs higher with the rising cash index but may have topped after the reversal last week. Grains higher on weather and anticipating a bullish report for beans, the wildcard is will USDA lower yield on corn? Brad Kooima, Kooima Kooima Varilek has details.
Grains Higher on Weather, Anticipating Bullish Report for Beans: Hogs Strong, While Cattle Fall with Rally in Corn and Lower Beef
Cattle fall on higher corn & lower beef, but will cash continue to be resilient? Hogs higher with the cash index but may have topped. Grains higher on weather, report squaring. Brad Kooima, Kooima Kooima Varilek.
July 11, 2023 09:42 AM
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DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
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