Live cattle see more profit taking, despite higher boxed beef and strong cash, feeders react to lower corn. Hogs bounce with lower corn and higher cash and cutouts. Grains lower on profit taking, hedge selling, news Ukraine grain barges are being loaded and a slightly better extended forecast. Brad Kooima of Kooima Kooima Varilek has details.
Live Cattle Lower on Profit Taking, Hogs Bounce with Higher Cash, Cutouts: Grains See Correction Watching Weather and War News
Live cattle see more profit taking, despite higher boxed beef and strong cash. Hogs bounce with higher cash and cutouts. Grains lower on profit taking. Brad Kooima of Kooima Kooima Varilek has details.
July 25, 2023 09:52 AM
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Randy Martinson of Martinson Ag says soybeans are trying to bounce early Tuesday with talk of China looking for more soybeans and a stabilization of the real.
Alan Brugler with A&N Economics says the bottom line is with that weakness in real, you’re going to see a little more competition out of Brazil on soybean exports when you’re looking at them in dollar terms.
Joe Kooima of Kooima Kooima Varilek says the reaction was a bit muted considering the placements were well below estimates. However, he says some of it was already priced in.
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