Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211
   

Agricultural News


CME's Scott Shellady on the Volatile Grain Markets and the Back and Fourth Hog Market

Mon, 12 Oct 2020 19:33:43 CDT

CME's Scott Shellady on the Volatile Grain Markets and the Back and Fourth  Hog Market Scott Shellady, known as the Cow guy with the CME group says Its been a pretty volatile summer for all the markets, but the wheat prices have been pretty good this past week. Associate Farm Director, KC Sheperd spoke with Shellady on Friday and he says, 'there are a lot of traders out there that trade the relationship between wheat and corn, and you cannot have any reason for wheat and corn to rally, but if corn and soybeans are skyrocketing around you, those relationships, they try to keep those ratios the same, and that will also drag it up, so we've had a lot of other reasons out there."

Producers have been worried about the prices of corn lately, and Shellady says they do have a cause for concern, "That's going to be a big issue if corn gets that expensive." However, Shellady says the good news is that we have seen our biggest customer come back in China, and we have also seen some other parts of the country open back up, so we've seen some demand come back that way, "There's a lot to talk about, and for the first time in a long time its all pretty good,"

The hog market has been pretty volatile this summer as well. Shellady said he would love to see something come out from the government supporting the prices right now, "just solidify things. Just take a little bit of the volatility out and give people a chance to grieve and decide how we will take the next step higher, and how we are going to attract those new customers to the market.' He says it can get quite dangerous when the numbers move too fast because you can't get a solid footing.

Some will say it matters with an upcoming election around the corner, and some will say it doesn't. Shellady says he disagrees because they are looking at an efficacy of a vaccine, to get all those people to go back into restaurants and spark that demand, "They are also looking at how well the economy is doing running at only 25% restaurant capacity, but even with only 25% full, we still see this demand comeback." Lastly, Shellady reminds us that we have a federal reserve that says they will stick behind the markets, "and so those three things all, especially the last one, would be good for our markets because you are going to see more capital out there and you will see folks trade in our markets for products because the more capital, that might be inflationary, boy oh boy, inflation is going to have an impact on the things we trade."


   


   

right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m Wednesday, October 21  Wed, 21 Oct 2020 15:57:26 CDT
  • Wednesday, October 21, 2020 Market Wrap-Up with Justin Lewis  Wed, 21 Oct 2020 14:58:12 CDT
  • U.S. Sen. John Boozman (R-Ark.), Inline to be The Next Chairman of Ag Committee, Says The New Farm Bill Will Receive Priority in 2021  Wed, 21 Oct 2020 15:06:15 CDT
  • Quality Management Specialist hired to serve Oklahoma's Food Processing Industry  Wed, 21 Oct 2020 11:29:52 CDT
  • Made in Oklahoma--A Tasty Way to Support Local Businesses around the State  Wed, 21 Oct 2020 11:23:43 CDT
  • Cover Crops and Proven Success with Soil Health Practices to be featured in Oct. 29 Virtual Meeting  Wed, 21 Oct 2020 10:51:01 CDT
  • Ag in the Classroom with a New Professional Development Opportunity!  Wed, 21 Oct 2020 09:46:01 CDT
  • Missouri Cattlemen’s Back Cattle Market Transparency Act of 2020  Wed, 21 Oct 2020 09:39:41 CDT

  • More Headlines...

       
    © 2008-2020 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.