Livestock opened higher but live cattle fade after yesterday’s disappointing cash trade. Hogs are failing to build on yesterday’s technical reversal. Grains lower on profit taking. Scott Varilek of Kooima Kooima Varilek has more.
Livestock Fade Higher Open with Lower Cash: Grains Weak on Profit Taking
Livestock opened higher but live cattle fade after disappointing cash. Hogs are failing to build on yesterday’s technical reversal. Grains lower on profit taking. Scott Varilek of Kooima Kooima Varilek has more.
January 27, 2023 08:54 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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