Grain and livestock futures are mostly lower except hogs. Cattle continue to correct with steady to lower cash trade ideas, but how low will prices go? Hogs are seeing short covering and spread unwinding with cattle. Grains continue to see technical selling and globally are not competitive on price. Brad Kooima of Kooima Kooima Varilek has insight.
Markets Mostly Lower Except Hogs: Cattle Continue to Correct and Grains Lower with More Technical Selling, Watching Weather
Cattle continue to correct w/lower cash trade ideas, but how low will prices go? Hogs see short covering & spread unwinding w/cattle. Grains continue to see technical selling. Brad Kooima, Kooima Kooima Varilek.
April 25, 2023 09:23 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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