Hog Prices-Markets
Mark Schultz, Northstar Commodity, says corn December corn closed above the $4 level on Friday and was nearly steady for the week.
Mike Minor with Professional Ag Marketing says he’s been impressed with how well the corn market has digested Tuesday’s bearish yield and production news.
Chuck Shelby, Risk Management Commodities, says soybeans were higher still digesting the positive news from the WASDE report and pulled corn higher. While he thinks this is bottoming action in the soybeans but what about corn?
Kent Beadle with Paradigm Futures says corn is following the soybean market early Wednesday after USDA shocked the market with a record 188.8 bu. yield and 2 million more harvested acres. So did the report bottom the markets?
Jeff Hoogendoorn with Professional Ag Marketing says the grain markets were lower on China disappointment. Lean hogs continue to be supported by lower slaughter figures which could be a tailwind into 4Q.
Brad Kooima of Kooima Kooima Varilek says there were signs in the cattle market prior to Friday’s sell-off indicating the market might be getting toppy. However, does the market negate the reversals like it has in the past?
Scott Varilek, Kooima Kooima Varilek, says cattle saw some early profit taking pressure after contract and record highs again Thursday. However, the cattle futures have been resilient and every break seems to get bought, which is a good sign of a bull market.
Sam Hudson with Corn Belt Marketing says corn made contract lows again Wednesday as funds continue to sell on record yield estimates from private firms. However, the pressure is about more than just yield.
Brad Kooima of Kooima Kooima Varilek says cattle futures started higher early Monday on the heels of record cash. Grains tried to bounce but may have a tough time holding any gains with favorable weather, big yield ideas and trade uncertainty.
Scott Varilek with Kooima Kooima Varilek says live and feeder cattle futures are trying to recover after an ugly day Thursday that ended with bearish reversals. Grains are mixed on favorable weather and tariff news.