Grains start higher after higher weekly closes, then fade as the market is also trading weather, planting progress and the WASDE. Cattle bounce after a lower week, while hogs trade 2-sided trying to consolidate after a tough down week. Tomm Pfitzenmaier with Summit Commodity Brokerage has more.
Grains Start Higher After Up Week, Then Fade: Cattle Try to Bounce After a Lower Week, Hogs 2-Sided
Grains start higher after higher weekly closes, but fade trading weather, planting progress, WASDE. Cattle bounce after a lower week, while hogs see 2-sided trade. Tomm Pfitzenmaier w/Summit Commodity Brokerage.
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Shawn Hackett with Hackett Financial Advisors says the market was removing China premium after the disappointing summit as the market wanted more details on ag purchases.
Scott Varilek with Kooima Kooima Varilek says cattle futures are back trading higher with their huge discount to the record cash trade. He says cash trade could get even crazier.
Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
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