Live cattle are choppy but the futures discount to cash is supportive and Brad Kooima, Kooima Kooima Varilek says cash could be steady to higher this week. Lower corn supports feeder. Hogs mixed but continue to struggle with big slaughter numbers. Grains are lower after hitting chart resistance and with fast planting, weather and WASDE positioning plus China cancels another 10.7 mb of corn.
Live Cattle Choppy Awaiting Cash, Hogs Mixed: Grains Lower with China Corn Cancellation, Fast Planting, WASDE
Live cattle 2-sided but Brad Kooima, Kooima Kooima Varilek says cash could be steady/higher. Hogs mixed but struggle with big supplies. Grains lower on fast planting, wx, WASDE, China cancels 10.7 mb corn.
May 09, 2023 09:31 AM
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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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