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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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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