Grains rebound with technical buying under light holiday volume but are we trading weather? Live cattle set back on profit taking ahead of the COF report, with hogs lower following cash. Brian Grete of Pro Farmer has analysis.
Grains See Technical Rebound with Light Holiday Volume: LC and Hogs End Lower
Grains rebound on technical buying with thin holiday volume, but can soybeans hit $15? Live cattle lower on profit taking ahead of COF report, with hogs following lower cash. Brian Grete, Pro Farmer has analysis.
December 20, 2022 02:31 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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