Grains end sharply lower on profit taking, removing weather premium and with a risk off day in outside markets. Live and feeder cattle make new highs on fund buying and strong cash and cutouts, plus lower corn. Several hog contract have limit up moves on short covering. Ted Seifried, Zaner Ag Hedge has details.
Grains See Profit Taking as Market Removes Weather Premium: Livestock Rally with a Limit up Day in Hogs
Grains end sharply lower on profit taking, removing wx premium, with a risk off day in outside markets. Cattle hit new highs w/strong cash, cutouts. Hogs limit up on short covering. Ted Seifried, Zaner Ag Hedge.
May 30, 2023 03:23 PM
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Grain markets all made new lows for the move on additional fund long liquidation says Randy Martinson with Martinson Ag Risk Management.
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