Live cattle see follow through selling on risk off in outside markets and lower Southern cash at $170. Feeders leading with lower corn. Hogs gain with strong exports and higher cash. Grains see fund selling on poor exports, bearish WASDE expectations, lower outside markets. Scott Varilek, Kooima Kooima Varilek has details.
Live Cattle Fall with Lower So. Cash, Hogs and Feeders Up: Grains See Fund Selling on Bearish Exports, WASDE, Outside Markets
Live cattle see more selling on outside markets, lower So. cash at $170. Hogs up on strong exports, higher cash. Grains down on poor exports, bearish WASDE. Scott Varilek, Kooima Kooima Varilek has details.
May 11, 2023 09:29 AM
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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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