Hog Prices-Markets
Chuck Shelby with Risk Management Commodities says Monday’s action in the grain markets was disappointing as the funds came back into sell in the grain complex.
Brad Kooima with Kooima Kooima Varilek says cash cattle trade shattered previous records last week and the futures are continuing to make new all-time highs on Monday in both live and feeder cattle futures.
Garrett Toay with AgTraderTalk says grains also saw mostly higher weekly closes mostly as a result of technical buying.
Scott Varilek, Kooima Kooima Varilek, says cattle futures gapped higher on the opening Friday and made all-time highs once again. Futures are still chasing record cash.
Jeff Hoogendoorn, with Professional Ag Marketing, says hogs ended mixed Wednesday, consolidating after the recent rally driven by higher cash and cutouts. While soybeans rallied after the Trump/Xi call.
Tommy Grisafi of Nesvick Trading says it was a risk on day in the grains as they attempted to add weather premium on the hot, dry extended forecasts. “I feel like these markets have very little if any weather premium.”
Don Roose, U.S. Commodities, says corn and soybeans finally bounced Tuesday after closing lower for several days. He says both markets were adding risk premium and scored reversals.
Brian Grete, Pro Farmer Editor, says soybeans roll over and make new lows for the move on China U.S. trade tensions, which weighed on corn.
Brad Kooima, Kooima Kooima Varilek, says cattle rally chasing record cash with the basis historically wide.
Scott Varilek, Kooima Kooima Varilek, says cattle futures are chasing exploding cash early Friday, with more record high prices paid in all areas. Corn and soybeans continue to be weak with mostly favorable weather.