Grain and livestock futures all ended higher Friday. The grains were supported by weather, outside market strength and the bull spreads were working in corn and soybeans with strong cash basis levels. Cattle made all-time highs in many live and feeder contracts on the heels of record cash trade, when will it end? And after a higher week have hogs finally turned the corner? Randy Martinson of Martinson Ag has more.
Higher Closes on Friday with Grains Putting in Weather Premium: Cattle Hit Some Record Highs in Cash and Futures
Grain and livestock futures end higher Friday. Grains supported by weather, outside markets and cash strength. Cattle made new highs on record cash trade. Have hogs finally bottomed? Randy Martinson, Martinson Ag
June 02, 2023 02:35 PM
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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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