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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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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