Livestock futures ended mixed on Tuesday. Live cattle scored new contract highs in all but the October contract but faded into the close. Higher cash in the north at $145 helped push the market early along with fund buying. Hogs ended mostly higher with help from higher cash and the rising index. Grain prices were all higher on Tuesday with wheat leading the rally on news four regions of Ukraine may vote to join Russia, and Putin may block renewal of the safe passage for exports, which sparked renewed global grain concerns. Grains also saw speculative buying as money came into the complex from outside markets, which were posting a negative day. Michelle Rook gets the summary with Brad Kooima of Kooima Kooima Varilek.
Livestock End Mixed after New Highs in Live Cattle: Grain Prices Higher Led by Wheat on Russia Ukraine News
Livestock futures mixed on Tuesday. Live cattle hit new highs except October then faded. Grain prices were higher with wheat leading the rally. Michelle Rook talks with Brad Kooima of Kooima Kooima Varilek.
September 20, 2022 03:32 PM
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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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