Grains putting in weather premium ahead of the holiday but what will it take to keep going? Live cattle hit more new highs with strong cash and cutouts but what’s it going to take to bottom the hog market? Ted Seifried, Zaner Ag Hedge has the answers.
Grains Put in Weather Premium Before the Holiday: LC Follow Higher Cash, But What Will it Take To Bottom Hogs?
Grains put in weather premium ahead of the holiday but what will it take to keep going? LC hit new highs with strong cash and cutouts but what’s it going to take to bottom the hogs? Ted Seifried, Zaner Ag Hedge.
May 26, 2023 01:21 PM
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Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
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