Technical buying supports rally in livestock, cattle break to new highs for the move. Higher cash also supportive. Grains set back on technical selling, harvest pressure, hopes for Black Sea export deal extension. Michelle Rook talks with Brad Kooima of Kooima Kooima Varilek.
Technical Buying in Livestock Pushes Cattle into New Highs, Grains Lower on Harvest Pressure, Black Sea Export Hopes
Technical buying supports livestock, cattle break to new highs for move. Grains see technical selling, harvest pressure, Black Sea export deal hopes. Michelle Rook talks with Brad Kooima of Kooima Kooima Varilek.
October 18, 2022 11:24 AM
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Arlan Suderman, chief commodities economist with StoneX, says the additional cut in winter wheat acres was a surprise but there were others as well.
Mike Zuzolo, Global Commodity Analytics, says grains were pressured by a host of factors including weather and fund liquidation.
Brad Kooima of Kooima Kooima Varilek says cattle futures are down with a risk off day in the ag markets. End of quarter profit taking and talk of a packer bailout is also weighing on futures.
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