Cattle rally with higher cash up to $173, even a few $174 last week and adding some weather premium. Hogs mixed. Grains fall with improved SA weather, soybeans take out October lows. Scott Varilek, Kooima Kooima Varilek, has more.
Cattle Rally with Higher Cash, Hogs Mixed: Grains Lower with Soybeans Taking Out October Lows
Cattle rally with cash up to $173, few $174 last week and adding weather premium. Hogs mixed. Grains fall with improved SA weather, beans take out Oct. lows. Scott Varilek, Kooima Kooima Varilek, has more.
January 02, 2024 09:15 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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