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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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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