Grains end mixed on Friday but were well off lows with a reversal in outside markets and the lower dollar, which also helped cotton. Grains continue to focus on demand, especially exports now that harvest is past the 50% mark. Live cattle scored more contract highs in October and December ahead of the Cattle on Feed report. Hogs scored new highs with support from higher cash. Michelle Rook gets details with Alan Brugler of Brugler Marketing.
Grains End Mixed Taking a Cue from Outside Markets, Lower Dollar While Cattle and Hogs Hit New Highs
Michelle Rook talks to Alan Brugler of Brugler Marketing to end the week.
October 21, 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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