Fund liquidation continues in the grains with the risk off in outside markets and weak technicals. Cattle continue to make new highs with higher cash, cutouts and positioning ahead of a bullish COF Report. Hogs supported by higher cutouts and strong weekly exports. Scott Varilek of Kooima Kooima Varilek has details.
More Fund, Technical Selling in Grains: That Supports Livestock with Cattle Hitting New Highs Ahead of COF
Fund liquidation continues in the grains. Cattle make new highs on higher cash, cutouts, lower corn, COF positioning. Hogs follow higher cutouts, strong weekly exports. Scott Varilek, Kooima Kooima Varilek has more
February 24, 2023 09:05 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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