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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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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