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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Arlan Suderman, chief commodities economist with StoneX, says the additional cut in winter wheat acres was a surprise but there were others as well.
Mike Zuzolo, Global Commodity Analytics, says grains were pressured by a host of factors including weather and fund liquidation.
Brad Kooima of Kooima Kooima Varilek says cattle futures are down with a risk off day in the ag markets. End of quarter profit taking and talk of a packer bailout is also weighing on futures.
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