Cattle hitting new contract highs again on bullish cash ideas, tight supplies. Hogs test the upper end of the trading range on the charts. Will they break through? Grains lower positioning ahead of the WASDE, with some disappointment about crop ratings. Brad Kooima, Kooima Kooima Varilek has more.
Cattle Make New Highs, Hogs Test Resistance: Grains Slide Ahead of WASDE
Cattle hitting new contract highs again on bullish cash ideas, tight supplies. Hogs test resistance. Grains lower pre-WASDE, with disappointment about crop ratings. Brad Kooima, Kooima Kooima Varilek has more.
September 12, 2023 09:28 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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