Hog Prices-Markets
Scott Varilek with Kooima Kooima Varilek says the Truth Social post from President Trump that 300,000 MT of beef imports will enter the U.S. duty free over the next 90 days to lower beef prices tanked the cattle market.
Joe Kooima with Kooima Kooima Varilek says the cattle were down early Friday pricing in the plant closure news, but this time seems different regarding the long term implications for the market.
Sam Hudson of Corn Belt Marketing says the grain rally on Wednesday was impressive but ran out of steam.
Kyle Bumsted of Allendale says corn was taking a breather after 20 cent report gains on Wednesday. Cattle and hogs were down hard.
Rich Nelson with Allendale says grains saw selling pressure as there are plenty of questions regarding USDA’s numbers especially after last August’s yield and acreage shock.
Mike Minor with Professional Ag Marketing says grains were under pressure early Tuesday positioning ahead of the August report and with news of Russia and Ukraine meeting to discuss safe passage of vessels in the Black Sea.
Arlan Suderman of StoneX says while the focus of the WASDE report continues to be yields, he thinks there are some underlying factors that are more important.
Brad Kooima of Kooima Kooima Varilek says live cattle failed at the 50% retracement levels, even with higher cash trade. So, what will it take to get through those resistance areas on the futures?