Markets ended the week higher except for hogs. Grains saw technical buying and pre-holiday positioning, export biz and weather supportive. Cattle were up with southern cash at $156 and sharply higher cutouts. COF was as expected except for placements at 98%, above estimates. Hogs saw profit taking with lower cash. The Hogs and Pigs report was in line with trade estimates. Scott Varilek of Kooima Kooima Varilek has analysis.
Higher Closes Except Hogs: Markets Saw Pre-Holiday Positioning, Export Biz, Weather, Report Influence
Grains saw pre-holiday trade, export biz and weather supportive. Cattle were up on $156 cash, higher cutouts, report positioning. Hogs saw profit taking on lower cash. Scott Varilek of Kooima Kooima Varilek.
December 23, 2022 03:16 PM
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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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