A mixed start in the grain and livestock futures, with outside markets turning negative after disappointing CPI data. Michelle Rook gets the latest with Mark Schultz of Northstar Commodity.
Grain and Livestock Futures Open Mixed, Outside Markets Spillover After Negative Reaction to CPI
A mixed start in the grain and livestock futures, with outside markets turning negative after disappointing CPI data. Michelle Rook gets the latest with Mark Schultz of Northstar Commodity.
September 13, 2022 02:54 PM
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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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