Grains Rally Back on Holiday, Technical Buying: Livestock Lower, Cattle Fade Higher Cash

Grains rally back into the close with technical buying and holiday positioning. Cattle closed lower even with higher cash, hogs also sold off. Michelle Rook w/ Mike Minor of Professional Ag Marketing.

Grains rally back into the close with technical buying and holiday positioning, but the 4 mb export sale to China was helpful as well as higher seasonals. Cattle closed lower a disappointment with higher cash, hogs also sold off. Michelle Rook talks with Mike Minor of Professional Ag Marketing.

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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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