Hog Prices-Markets
Joe Kooima with Kooima Kooima Varilek says cattle futures were down early on liquidation ahead of the three day weekend, lack of fed cash news and a rumor of NWS in the U.S.
John Heinberg with Total Farm Marketing says soybeans rallied with the surging bean oil market on Thursday on talk of favorable biofuels policy in the Renewable Fuels Standard.
Don Roose with U.S. Commodities says the bearish USDA report news has been largely factored in but corn and soybeans are establishing new lower trading ranges.
Corn and soybeans try to bounce Wednesday morning. Vince Boddicker with Farmers Trading Company says some of this is short covering or corrective buying as the market was oversold but he’s not sure the bearish USDA news is all digested.
Brian Grete with Commstock Investments says the corn market is still trying to digest the shock of USDA’s January reports. March corn futures came within striking distance of the Aug. 12 low at $4.10.
Brad Kooima with Kooima Kooima Varilek says strong cash has been supportive of the cattle futures and he expects a higher week in the fed market again this week. Grains are still digesting USDA’s bearish reports.
Live and feeder cattle futures were lower early Friday but Scott Varilek of Kooima Kooima Varilek says it didn’t take long for the markets to firm up supported by the cash market.
Garrett Toay with AgTraderTalk attributes the rally mostly to corrective buying after a $1.40 break from the highs in soybeans. Traders are also short in the wheat market, which just came off of contract lows in SRW futures.
Chip Nellinger with Blue Reef Agri-Marketing says soybeans sold off in a classic “buy the rumor, sell the fact,” reaction to USDA confirming China export sales.
Brad Kooima with Kooima Kooima Varilek says the recent strength in cattle has been a combination of fund buying and higher cash trade. He predicts that will continue into first quarter of 2026.