Macroeconomic and demand concerns tied to Fed Chairman Powell’s comments about the economy were bearish for outside markets and pushed the dollar higher. Commodity wide fund selling was triggered and soybeans did chart damage closing below $13. Cattle saw some steady cash in NE at $292 but pre-report positioning was also a feature. Hogs saw profit taking after testing the top of the trading range. DuWayne Bosse, Bolt Marketing, has details.
Macroeconomic and Demand Concerns Fuel Risk Off Selling in Outside Markets and Commodity Wide
Macroeconomic and demand concerns pressured the outside and commodity sector. Cattle saw some steady cash in NE at $292 ahead of the COF. Hogs saw profit taking. DuWayne Bosse, Bolt Marketing, has details.
September 21, 2023 02:29 PM
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