Grain and livestock futures are mostly higher midday with weather, end of year positioning and light holiday trade all contributing to the rally. Chip Nellinger of Blue Reef Agri-Marketing has more.
Grain and Livestock Futures Mostly Higher Midday: What’s Behind the Rally?
Grain and livestock futures are mostly higher midday with weather, end of year positioning and light holiday trade all contributing to the rally. Chip Nellinger of Blue Reef Agri-Marketing has more.
December 21, 2022 11:38 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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