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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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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