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The cattle market has taken a break from the highs, but it may be too early to get bearish. What Does USDA’s April 1 Cattle on Feed Report tell us about supplies and prices moving forward?
Markets end mostly lower with risk off fund selling, weather, fast planting, Brazil prices. Cattle consolidating waiting for cash direction, with hogs failing. Oliver Sloup, Blue Line Futures has details.
Funds continue to sell in grains with risk off from outside markets, fast planting, rain for HRW areas & Brazil competition. Cattle consolidate but cash is key. John Heinberg, Total Farm Marketing.
Cattle continue to correct w/lower cash trade ideas, but how low will prices go? Hogs see short covering & spread unwinding w/cattle. Grains continue to see technical selling. Brad Kooima, Kooima Kooima Varilek.
AgDay TV Markets Now: Mike Zuzulo of Global Commodity Analytics says funds sell again in grains with bearish demand story, including China cancellations.
A historic drought has severely cut the size of this year’s crop in Argentina, especially soybeans. Processors will be forced to import soybeans just to stay in business.
Fund selling in grains with bearish export news including the China cancellation, poor inspections, Black Sea and Brazilian competition. Cattle down on COF, softer cash, hogs up. Mike Zuzulo, Global Commodity Analytics.
The cattle market has moved into uncharted territory. It came as a result of one of the worst droughts in history but how long will the bull market last?
Fund selling in corn w/China cancellation, beans follow w/uncertainty on biofuels tax credits & Brazil’s cheaper crop. KC, MN wheat add weather premium. Cattle softer on COF, cash. Randy Martinson, Martinson Ag.
More fund selling in corn w/the China cancellation, strong cash and spreads support beans, with wheat trading weather. Cattle set back on the bearish COF, hogs up on short covering. Michelle Rook has details.