Live cattle look lethargic midday despite positive fundamentals and higher feeders, hogs are mostly lower. Grains are all higher with technical buying and weather a factor. Brad Kooima of Kooima Kooima Varilek has details.
Live Cattle Lower Despite Positive Fundamentals and Higher Feeders, Hogs Lower: Grains See Corrective Bounce, Weather Premium
Live cattle look lethargic midday despite positive fundamentals & higher feeders, hogs are mostly lower. Grains higher with technical buying, weather premium. Brad Kooima of Kooima Kooima Varilek has details.
December 20, 2022 11:28 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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