Grains and livestock prices under pressure with commodity wide selling tied to the risk off in outside markets after a bearish CPI numbers. However, reports of higher cash cattle trade may stabilize that market. Michelle Rook gets details with Scott Varilek of Kooima Kooima Varilek.
Lower Opening in Commodity Markets with Risk Off Spillover from Bearish CPI Data: Higher Cash May Stabilize Cattle
Early price pressure with risk off in outside markets after a bearish CPI numbers. Higher cash cattle trade may stabilize that market. Michelle Rook talks with Scott Varilek of Kooima Kooima Varilek.
October 13, 2022 08:45 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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