Hog Prices-Markets
Scott Varilek, Kooima Kooima Varilek, says cattle futures are extending gains after a higher week in the futures and with higher cash trade. Grains are seeing technical buying but dryness in Argentina is also a concern.
From trade and deregulation to alternative land uses and cash rent prices, ag economists have no shortage of issues on their radar for 2025.
Although there were no earth-shattering surprises in the Dec. 1 USDA Hogs and Pigs Report, economist Lee Schulz says there are several important takeaways for pork producers as the year comes to a close.
Chip Nellinger, Blue Reef Agri-Marketing says soybeans recovered off Thursday’s new contract lows on fund short covering and profit taking, plus market talk that China was in buying soybeans. Corn put in the highest weekly close in six months.
Grain markets are seeing value and technical buying but Kent Beadle of Paradigm Futures says the rebound in soybeans is supported by a recovery in the Brazilian Real.
Scott Varilek of Kooima Kooima Varilek says soybeans see a dead cat bounce off contract lows Thursday. Meanwhile, cattle futures end lower despite good early cash news. So is this topping action?
Alan Brugler of A&N Economics, LLC says corn started higher still digesting the bullish cut to ending stocks in the December WASDE but ran into chart resistance.
Kent Beadle, Paradigm Futures, says grains are extending gains from Tuesday on technical and fund buying as the markets. The markets are still digesting the bullish USDA report data for corn and even wheat.
Arlan Suderman, Chief Commodities Economist for Stone X, says corn and wheat ended higher on value buying after wheat hit contract lows last week. Soybeans continue to be under pressure with favorable weather in Brazil and basis levels below the U.S.
Brad Kooima, Kooima Kooima Varilek, says cattle are working in last week’s higher fed cash cattle trade. Grains are also mostly higher adding geopolitical risk premium and ahead of the WASDE.