Hog Prices-Markets
Kent Beadle with Paradigm Futures says all but old crop corn saw more pressure with the risk off attitude regarding tariffs and with acreage estimates being released. Meanwhile, weather propelled cattle to fresh highs.
Rich Nelson of Allendale says grains started lower and are quietly mixed awaiting tariff news and the big USDA reports at the end of the month. Allendale’s annual acreage survey confirms higher corn acres at the expense of soybeans.
Dan Basse, Ag Resource Company, says the February highs may be the highs for the year in corn and soybeans with the headwinds he sees ahead.
Mike Zuzulo, Global Commodity Analytics, says wheat led the price rally and pulled up corn as traders were putting in weather premium and funds covered short positions. Feeder cattle made all-time highs.
Joe Kooima of Kooima Kooima Varilek says cattle and hogs both saw gap higher openings and are seeing triple digit gains with help from the cash. Corn is higher following wheat, while soybeans lag.
Don Roose, U.S. Commodities says corn and wheat end lower with soybeans higher Friday evening up positions ahead of the weekend.
Scott Varilek, Kooima Kooima Varilek, says cattle are awaiting cash direction with producers and feedlots holding out for higher money. Grains are mixed after a higher close on Thursday.
DuWayne Bosse, Bolt Marketing, says grain markets rebounded Thursday on technical buying after holding and bouncing off support areas. Strong export demand was also positive.
Mark Knight, Farmers Keeper Financial, says grains are seeing a technical bounce off support areas wtih strong weekly exports.
Alan Brugler with A&N Economics, LLC. says the tariff escalation once again weighed on the grain markets with the EU putting retaliatory tariffs on U.S. grains and threats that Canada would put levies on U.S. ethanol imports.