Grains and Hogs Mostly Higher on Corrective Buying, Sharply Lower Dollar, China Easing COVID Policy: Profit Taking in Cattle

Grains and hogs see corrective buying with help from sharp drop in dollar...plus China easing its COVID policy. Cattle are seeing profit taking. Michelle Rook w/Pat Von Tersch of Professional Ag Marketing.

Grains and hogs see corrective buying with help from outside markets, especially sharp drop in the dollar...plus China easing its COVID policy. Cattle are seeing profit taking. Michelle Rook w/Pat Von Tersch of Professional Ag Marketing.

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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.”
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