Hog Prices-Markets
DuWayne Bosse of Bolt Marketing says the managed money traders have hit the sell button with charts taking out key support and they may not stop until harvest reaches 60% to 70% done.
Matt Bennett with AgMarket says soybeans made new lows for the move on Friday on fund selling and harvest. The question of how low prices go is dependent on how much of their long position they liquidate.
Joe Kooima of Kooima Kooima Varilek cattle futures have done a lot of heavy lifting the last three to four weeks with the stubborn cash market.
Chip Nellinger, Blue Reef Agri-Marketing says soybeans closed below the low set on report day on harvest, the NOPA crush figures and Brazilian production estimates.
Corn and soybeans were lower again Thursday on fund long liquidation and harvest pressure. Hogs were trying to bounce off contract lows.
John Heinberg of Total Farm Marketing, says, the selling was tied to inflation concerns with the CPI coming in hot at 3.7%.
Brad Kooima of Kooima Kooima Varilek says last week’s technical breakout in cattle was a surprise to him due to the current fundamentals.
Brian Grete with Commstock Investments says a corn yield decrease was built in ahead of the report with average trade guesses .7 bu. lower than September. This is the largest October yield increase back to 2004.