Live cattle bounce off support but where is the market headed? Hogs see more technical buying. Corn holds support at 6.50 and bounces with the soybeans and crude oil, lower dollar. Michelle Rook w/Brad Kooima, Kooima Kooima Varilek.
Live Cattle, Corn and Soybeans Bounce Off Support with Higher CO, Lower Dollar: Hogs See Technical Buying
Live cattle bounce off support but where is the market headed? Hogs see more technical buying. Corn holds support at 6.50 and bounces w/soybeans and CO. Michelle Rook w/Brad Kooima, Kooima Kooima Varilek.
November 15, 2022 11:31 AM
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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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