Hog Prices-Markets
Rich Nelson, Chief Strategist with Allendale, Inc. says corn was lower Wednesday, seeing some profit taking after getting overbought but the rest of the grain and livestock complex were also lower.
Mike Zuzolo, Global Commodity Analytics, says soybeans saw risk off selling as China aligned itself with Russia and India, which signals no deal between the U.S. and China any time soon.
Brad Kooima of Kooima Kooima Varilek says live and feeder cattle futures are back into new contract and all-time highs after showing considerable resilience last week and despite a selloff in the equities. Grains sell off on tariff concerns.
Scott Varilek with Kooima Kooima Varilek says live and feeder cattle futures saw end of month profit taking on Thursday and some follow through selling to start Friday.
Don Roose, U.S. Commodities, says grain futures all ended slightly higher Thursday with end of month positioning and profit taking.
DuWayne Bosse with Bolt Marketing says the grain markets saw selling pressure from a stronger dollar and some liquidation ahead of first notice day on Friday and on end of the month liquidation.
Oliver Sloup of Blue Line Futures says corn has consolidated the last two sessions after hitting chart resistance at $4.17 and may wait for combine results before taking out that level.
Vince Boddicker with Farmers Trading Company says soybeans sank on profit taking and could see further liquidation going into first notice day and end of the month.
Brad Kooima of Kooima Kooima Varilek says live and feeder cattle futures gapped lower on the opening after a human case of New World screwworm (NWS) was announced over the weekend.
Scott Varilek, Kooima Kooima Varilek, says cattle fundamentals look supportive through fourth quarter, while corn and soybeans are running into chart resistance.