Cattle futures under pressure with higher corn and fears of lower cash, hogs can’t seem to find a bottom. Grains started off with some corrective buying but that is drying up in soybeans. Brad Kooima of Kooima Kooima Varilek has details.
Livestock Lower with Higher Corn and Cash Fears: Grains Start Higher but Corrective Buying Drying up in Soybeans
Cattle futures lower with higher corn and fears of lower cash, hogs can’t find a bottom. Grains started off with some corrective buying but it’s drying up in soybeans. Brad Kooima of Kooima Kooima Varilek has more.
January 24, 2023 11:21 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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