Live cattle futures score new contract highs after a bullish COF report and strong cash. Hogs consolidate, while grains see technical selling and a lack of bullish news to push the market higher. Talk of extending the Ukraine export deal also weighted on futures as well as poor export inspections for corn and wheat. Michelle Rook breaks it down with Pat Von Tersch of Professional Ag Marketing.
Live Cattle Score New Contract Highs on Report and Strong Cash: Hogs Consolidate, With Grains Lower on Technical Selling
Live cattle hit new contract highs after bullish report, strong cash. Hogs consolidate, grains see technical selling & lack of bullish news. Michelle Rook talks with Pat Von Tersch of Professional Ag Marketing.
October 24, 2022 03:07 PM
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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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