Hog Prices-Markets
John Heinberg, Total Farm Marketing, says soybeans saw profit taking pressure early Tuesday but clawed back to close slightly higher with the help of the soybean oil market. However, corn continues to fail.
The markets have several big headlines they’re digesting including news over the weekend that China and the U.S. are de-escalating the tariff war.
Mike Zuzulo, Global Commodity Analytics, says the strength in soybeans was tied to optimism about tariffs on China being lowered by the U.S., while wheat saw some short covering.
Scott Varilek, Kooima Kooima Varilek, says cattle continue to hit all-time highs in cash and futures. While corn is seeing some short covering after new lows for the move on Thursday.
Dave Chatterton, Strategic Farm Marketing, says the markets faded the news as the realization set in that no major breakthroughs in the trade talks are expected and a long term trade deal with China could take quite some time.
Kent Beadle, Paradigm Futures, says corn and soybeans rallied overnight and early Wednesday on the news China and U.S. are beginning trade talks this weekend.
Brad Kooima, Kooima Kooima Varilek, says cash cattle trade was record high again last week with $223 live paid in much of the North and even a few $224 trades to a regional. Grains are mostly lower.
Oliver Sloup, Blue Line Futures, says there was risk on buying across the commodity and financial markets due to more positive trade news and economic headlines.
Randy Martinson, Martinson Ag, says corn and wheat futures are seeing some technical buying with first notice day and end of month positioning out of the way.
DuWayne Bosse, Bolt Marketing, says corn and wheat are seeing end of the month short covering and some pressure taken off now that First Notice Day is in the rear view mirror.