2023 was a lower year for nearly every major ag commodity market except cattle. Randy Martinson, Martinson Ag, recaps the year and looks ahead at what may move the markets to start 2024.
Grain and Livestock Markets Mostly Lower for Last Day of 2023 and For the Year
2023 was a lower year for nearly every major ag commodity market except cattle. Randy Martinson, Martinson Ag, recaps the year and looks ahead at what may move the markets to start 2024.
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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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