Live cattle hit contract highs & see profit taking, but how high will this market go? Hogs correct, while corn and beans are up with the lower $ and bouncing off support. @michellerookag talks to Brad Kooima of Kooima Kooima Varilek.
Live Cattle Hit New Highs then Correct, Hogs Consolidating While Corn and Beans are Up with Lower Dollar, Bounce off Support
Live cattle hit contract highs, then see profit taking. Hogs correct, while corn and beans are up with the lower $ and bouncing off support. @michellerookag talks to Brad Kooima of Kooima Kooima Varilek.
October 25, 2022 11:36 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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