Ag markets are all trading higher early Monday morning.
Brad Kooima of Kooima Kooima Varilek says cattle are seeing triple digit gains in both live and feeders in reaction to the positive Cattle on Feed Report placement number, which came in below expectations.
Cash trade this week will be the key to keeping the rally going but he says tight numbers and the lack of negotiated business last week should provide some leverage.
Hogs are also up in a risk on day and with news of China lowering short and long term interest rates driving ideas of pork exports.
Grains are also higher on the China news but are trading a hotter drier extended forecast.
Funds are also leaning near to record short and they may be covering some of those positions.
