AgDay TV Markets Now: Scott Varilek with Kooima Kooima Varilek says the Cattle on Feed confirmed continued tight supplies and could lead to record prices in 4Q.
AgDay TV Markets Now: Scott Varilek Says Cattle on Feed Confirms Tight Numbers, Could Push Prices to Record Highs 4Q
AgDay TV Markets Now: Scott Varilek with Kooima Kooima Varilek says the Cattle on Feed confirmed continued tight supplies and could lead to record prices in 4Q.
August 21, 2023 04:19 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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