Cattle are making new highs again with lower corn, higher cash ideas and debt ceiling discussions moving forward. Hogs are seeing a corrective bounce. Grains under pressure taking out weather premium and with negative outside markets like the crude oil. Brad Kooima of Kooima Kooima Varilek has more.
Cattle Make New Highs with Strong Cash, Cutouts, Debt Ceiling Movement, Short Covering in Hogs: Grains Remove Weather Premium
Cattle make new highs on lower corn, higher cash ideas and debt ceiling discussions moving forward. Hogs are seeing a corrective bounce. Grains take out weather premium. Brad Kooima of Kooima Kooima Varilek.
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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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