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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DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
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