Grains ended mixed with the lower dollar providing support as well as higher energy prices lifting soybean oil and soybeans. Cattle and hogs were mostly higher with strong cash, but trading within recent highs. Michelle Rook gets insight from Bryan Doherty of Total Farm Marketing.
Grains End Mixed with Lower Dollar, Higher Energy Prices Supportive: Livestock Mostly Higher Pushed by Cash
Grains ended mixed with a lower dollar and higher energies providing support. Livestock mostly higher with strong cash but traded within recent highs. Michelle Rook talks to Bryan Doherty, Total Farm Marketing.
October 26, 2022 02:07 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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