Grains open mixed with soybeans higher and feed grains mostly lower. Livestock start in the green but quickly turn mixed. Outside markets are stabilizing after the melt down yesterday and providing some support. Michelle Rook talks with Scott Varilek of Kooima Kooima Varilek.
Grains and Livestock Futures Mixed Early: Outside Markets Stabilize to Help
Grains and livestock futures mixed early. Outside markets are stabilizing, providing some support. Michelle Rook talks with Scott Varilek of Kooima Kooima Varilek.
September 15, 2022 05:46 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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