The soybean complex rallies adding Brazil weather premium, while wheat and corn slide on lack of demand. Cattle have confirmed a low but how much recovery is expected? Hogs end mixed but China news may help the market rebound. Shawn Hackett, Hackett Financial Advisors, has insight.
Soybeans Up on Brazil Crop Concerns, Corn and Wheat Slide on Lack of New Export Biz: Cattle Recovery Continues
Soybeans rally adding Brazil weather premium, wheat and corn slide on slow demand. Cattle higher but how much recovery is expected? Hogs mixed. Shawn Hackett, Hackett Financial Advisors, has insight.
December 18, 2023 02:39 PM
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Joe Kooima of Kooima Kooima Varilek says funds continue to pressure the cattle futures and he anticipates that will continue after last week’s lower weekly closes.
Allison Thompson with The Money Farm says the failure was likely position squaring heading into the three day holiday plus markets ran into chart resistance and saw some profit taking.
Scott Varilek with Kooima Kooima Varilek says cattle futures were struggling early Thursday with lower cash as the packers are trying to break the market with their own inventory.
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