Grains are firmer ahead of the report. Soybeans and meal are the strongest on SA weather. Cattle seeing more profit taking, while hogs are lower. Michelle Rook has an update.
Grains Firmer Ahead of Report, Soybeans Trade SA Weather: Cattle Seeing More Profit Taking, Hogs Following
Grains are firmer ahead of the report. Soybeans and meal are the strongest on SA weather. Cattle seeing more profit taking, while hogs are lower. Michelle Rook has an update.
February 08, 2023 08:56 AM
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Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
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