Live cattle score new contract highs early on weather and the COF report reaction, then set back on hedge pressure. Hogs also hit new highs after the report. Corn and soybeans are putting in SA weather premium but will it hold? Brad Kooima of Kooima Kooima Varilek has analysis.
Grains Mostly Higher Putting in SA Weather Premium: Livestock Mixed After New Highs in LC and LH
LC hit new highs on weather and the COF report, then see hedge pressure. Hogs also hit new highs after the report. Row crops put in SA weather premium. Brad Kooima of Kooima Kooima Varilek has analysis.
December 27, 2022 11:33 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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