Grains mixed and quiet ahead of the WASDE report but outside markets have settled down. Livestock mostly lower with cattle consolidating awaiting cash direction and hogs pressured by rising numbers. Michelle Rook has a short update.
Grains Quietly Mixed Awaiting WASDE: Livestock See Early Pressure
Grains mixed & quiet ahead of the WASDE report but outside markets have settled down. Livestock mostly lower w/cattle consolidating awaiting cash and hogs pressured by rising numbers. Michelle Rook an update.
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Joe Kooima of Kooima Kooima Varilek says the bounce in cattle isn’t unexpected as Friday’s selloff may have been overdone and with the financial markets seeing a recovery.
The grain markets saw an ugly October with huge losses on fund selling. Brian Grete with CommStock Investments says he’s not sure if the fund selling is done.
Scott Varilek with Kooima Kooima Varilek says the cattle futures rally out of the report was disappointing and did not last long indicating a possible exhaustion on the charts.
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