Cattle mostly higher on lower corn and steady cash, hogs mixed on better China news but disappointing exports. Grains start lower with slow weekly exports, some profit taking in beans and wheat and soybean oil is a big drag on talk of disappointing RFS biodiesel levels. Scott Varilek of Kooima Kooima Varilek has analysis.
Cattle & Hogs Mostly Higher on Follow Through Buying, Lower Corn: Grains Lower on Slow Exports, Sell off in Bean Oil
Cattle mostly higher with steady cash, hogs mixed with disappointing exports. Grains start lower with slow exports and sharply lower BO. Scott Varilek of Kooima Kooima Varilek has analysis.
December 01, 2022 09:25 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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