Grains end the week lower, with cattle mixed and hogs higher.
Oliver Sloup, Blue Line Futures, says corn saw continued technical selling and profit taking after the inability to take out chart resistance.
However, he thinks its just a matter of time before the underlying strong demand in the market pushes corn over these technical areas, especially with the funds long.
Soybeans also saw profit taking after reaching the top end of the trading range and failing.
Wheat futures ended lower with spillover weakness in corn and soybeans.
Cattle were mixed on Friday with live cattle ending higher working in sharply higher cash trade and negating the reversal from Thursday.
For the week Feb. live cattle were up $5.85 and April was $4.70 higher.
Feeders were weak on Friday with news the U.S. and Mexico have reached an agreement on protocols that may allow Mexican feeder cattle imports to enter as soon as the holidays.
An official announcement is yet to come.
Lean hog futures recovered after some hedge selling pressure on Thursday as Sloup says the funds continue to buy on the breaks.
