Harold House with the Kansas City Trade Group suggests another quiet day in the markets. To hear more from KMZU’s Mandy Young and K.C. Trade Group’s Harold House, Click below:
This week’s up and down pattern continued through early Friday morning, will all three grain markets posting minor gains. Soybeans initially rallied 14 cents before losing momentum due to a mostly lower Dalian market. Other commodity markets were mostly higher despite the continued rally in the U.S. dollar index.
Look for live and feeder cattle to open on a mixed basis with traders cautiously positioning before the development of cash news. Lean hog contracts should also begin with uneven price action thanks to a combination of residual selling and short covering.