Cattle lower, but with higher cash and cutouts and tight supplies is this just healthy profit taking? Hogs try to recover after technical damage and China trade concerns. Corn and soybeans position ahead of the report but are still rangebound. Brad Kooima of Kooima Kooima Varilek has analysis.
Live Cattle See Profit Taking after NCHs, Hogs Try to Recover: Grains Mixed Ahead of USDA Report
Cattle lower, but with is this just healthy profit taking after contract highs? Hogs try to recover after new lows. Report positioning in the grains. Brad Kooima of Kooima Kooima Varilek has analysis.
February 07, 2023 11:31 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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