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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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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