Grains Take a Pause on Profit Taking: Cattle Continue to Consolidate, Hogs Near Recent Highs Pushed by Cash and Cutouts

Grains close mostly lower with profit taking but eye on weather and Black Sea news. Cattle consolidate in a healthy correction, hogs pushed by strong cash and cutouts. Garrett Toay, AgTraderTalk has details.

Grains close mostly lower with profit taking after the big rally Monday, but markets have an eye on weather and Black Sea developments. Cattle consolidate in a healthy correction, hogs pushed by strong cash and cutouts but are into chart resistance. Garrett Toay, AgTraderTalk has details.

AgWeb-Logo crop
Related Stories
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.
Read Next
A year after StoneX’s survey shocked the market, two StoneX economists sit down for an exclusive interview, saying this year’s numbers tell a very different story about what will drive prices.
Get News Daily
Get Market Alerts
Get News & Markets App