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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Garrett Toay with AgTraderTalk says after the big rally to start the week the grain markets saw some profit taking and corrective selling.
DuWayne Bosse of Bolt Marketing says the wheat market was trying to extend gains early Thursday but may be getting close to pricing the Black Sea export disruptions in.
Oliver Sloup Blue Line Futures, says wheat prices skyrocketed adding risk premium on concerns about the escalating Black Sea war and the disruptions it is causing in the export market. It could have more upside left.
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