Cattle higher with the lower corn and a short covering bounce but will it hold with cash expectations lower this week? Hogs see some profit taking heading into the Hogs/Pigs Report. Gap lower openings in grains with rain in the forecast but $5.60 may be a good place to buy Dec corn for livestock producers. Brad Kooima, Kooima Kooima Varilek has insight.
Cattle Higher with Lower Corn, Hogs See Profit Taking: Gap Lower Opening in Grains with Forecasted Rains
Cattle higher on lower corn but will it hold with lower cash expectations? Hogs see some profit taking ahead of Hogs/Pigs Report. Gap lower in grains with forecasted rains. Brad Kooima, Kooima Kooima Varilek.
June 27, 2023 09:11 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.
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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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