Grains strong putting in weather premium and positioning ahead of the holiday. Follow through buying in live cattle after contract highs with higher corn pressing feeders. And demand concerns especially tied to Prop 12 are pulling hogs into contract lows again. Mike Minor of Professional Ag Marketing covers it all!
Grains Higher on Weather, Pre-Holiday Positioning: Live Cattle Extend Gains, More Contract Lows in Hogs
Grains higher on weather and pre-holiday positioning. Fund buying in live cattle after contract highs, higher corn presses feeders. Hog hit contract lows on demand concerns. Mike Minor, Professional Ag Marketing.
May 26, 2023 09:16 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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