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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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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