Hog Prices-Markets
Live cattle futures were lower again on Wednesday and have spent several consecutive days under the 100-day moving average. Brad Kooima with Kooima Kooima Varilek says it is looking like more than a healthy correction.
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.
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.
Darren Frye with Water Street Solutions says the follow through buying was very important to show the higher close on Tuesday was not a head fake.
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.
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.