Grains close higher putting in weather premium on hot dry extended forecasts but also some war premium after Russia attacked the Odessa port. How high will prices go? Live cattle have an impressive day with higher corn and lower feeders. While hogs consolidate. Brad Kooima, Kooima Kooima Varilek has details.
Grains Higher Putting in Weather and War Premium: Live Cattle Eye Contract Highs with Strong Cash
Grains higher on hot dry extended forecasts but also war premium after Russia attacked the Odessa port. Live cattle eye contact highs. While hogs consolidate. Brad Kooima, Kooima Kooima Varilek.
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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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