Hog Prices-Markets
Brad Kooima of Kooima Kooima Varilek says cattle are consolidating and the live cattle charts look horrible after Friday’s poor technical action. Soybeans try to extend gains after a higher day Friday and USDA’s 1.4 bushel per acre yield cut.
Scott Varilek with Kooima Kooima Varilek says grains are mixed ahead of the WASDE and despite more flash export sales. Cattle futures are under pressure with Choice boxes down over $6 and light cash at $188, also down from last week.
Darren Frye, Water Street Solutions, says it was an impressive that grains, especially the soybean complex, shook off the election results, possible tariff hikes and a sharply higher dollar.
Jeff Hoogendoorn with Professional Ag Marketing says the grain markets were supported by strong demand and the lower dollar but also positioning ahead of the election, FOMC decision and WASDE.
Randy Martinson with Martinson Ag says grains and livestock markets are positioning ahead of the election, FOMC announcement and the WASDE on Friday.
Mark Schultz with Northstar Commodity says strong demand continues to support corn and soybeans but it hasn’t been enough to push prices above chart resistance.
Joe Kooima of Kooima Kooima Varilek says grains are seeing support from strong demand and more export business. Cattle consolidate with election uncertainty, while hogs rebound from early weakness in all but the December contract to make new highs.
Scott Varilek with Kooima Kooima Varilek says corn and soybeans were supported by strong demand initially but ended off highs running into chart resistance and on election jitters. After another volatile day in cattle is the market topping?
Scott Varilek with Kooima Kooima Varilek says grains ease on profit taking and farmer selling. Cattle make more new highs for the move on hedge lifting and higher cash trade which was generally up $2 yesterday then fade.
Tomm Pfitzenmaier with Summit Commodity Brokerage says corn was pushed Thursday by strong demand with 15.5 million bushels of flash sales and weekly exports of 142 million bushels, the highest in 3 1/2 years.