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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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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