Another Friday, another headline out of Washington for the cattle market. Joe Kooima of Kooima Kooima Varilek Trading in Sioux Center, Iowa joins Market Talk to break down why President Trump's latest social media post on meat processing deregulation barely moved an already oversold cattle market, where the technical support levels sit for October live cattle and feeders, why the lean hog chart has gone quiet, and why fund money is pushing corn toward a run at $5.65 with wheat and soybeans following along.
Also corn, wheat and soybeans closed out a powerful two week rally on Friday even as they faded into the close, while the cattle market kept sliding under the weight of headline risk and weak feedyard leverage. Brady Huck of Empower Ag Trading in Kansas joins Market Talk to walk through his December and March corn seasonal charts, explain why funds keep piling into length, and break down why the cattle market's damage may not be finished yet.
We also have analysis and perspective from Mike Castle, Senior Commodities Economist at StoneX in Segment One and discuss the topic of beef on dairy and U.S./Canada trade impact on dairy in Segment Four.
Mentioned in this episode:
Farm Rescue
Learn more at https://www.farmrescue.org
Farm Rescue
Learn more at https://www.farmrescue.org