Discussion surrounding the potential for a Super El Niño, highlighted by NOAA on Friday, could become an important factor in shaping the global supply and demand outlook in the months ahead. Traders continue to monitor weather developments closely, as any significant shift in growing conditions around the world could have implications for global balance sheets.
With the latest WASDE report now in the rearview mirror, market attention is beginning to shift toward the USDA’s end-of-month reports, which may provide additional insight into acreage, production, and stocks estimates.
Meanwhile, the cattle market came under pressure once again on Friday, extending recent weakness as traders continued to grapple with uncertainty surrounding cash trade, demand, and broader market fundamentals.
Friday Market Wrap Up with Shawn Hackett at Hackett Financial Advisors:
