Hog Prices-Markets
Matt Bennett with AgMarket.Net says corn and soybean market was removing weather premium Friday with rains falling over portions of the Western Corn Belt Thursday evening and moving to east.
Scott Varilek with Kooima Kooima Varilek says there are signs he’s looking for yet in the cattle market to confirm the lows are in.
Don Roose of U.S. Commodities says wheat saw big gains early on the halt to exports in the Black Sea but could not hold at the highs. The corn and soybean market were lower on improving weather and served as an anchor.
Mike Minor of Professional Ag Marketing says the rains will have a bigger impact on soybeans, which are leading the losses.
Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
Chip Nellinger of Blue Reef Agri-Marketing says the rally in soybeans is being driven by China demand and weather concerns.