AgDay TV Markets Now: Scott Varilek, Kooima Kooima Varilek, says cattle fade bearish COF, while grains up on short covering and end of year positioning plus underlying demand.
AgDay TV Markets Now: Scott Varilek says Cattle Fade COF, Grains Up on Short Covering and Demand
AgDay TV Markets Now: Scott Varilek, Kooima Kooima Varilek, says cattle fade bearish COF, while grains up on short covering and end of year positioning plus underlying demand.
December 26, 2023 05:07 PM
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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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