Cattle see corrective buying after an ugly day Friday but how much technical damage was done? Hogs trying to consolidate. Corn falls with wheat and soybeans 2-sided. Brad Kooima, Kooima Kooima Varilek, has details.
Live Cattle See Corrective Buying After Ugly Friday, Hogs Consolidate: Corn Falls with Wheat, Soybeans 2-Sided
Cattle see corrective buying after an ugly Friday but how much technical damage was done? Hogs consolidating. Corn falls with wheat and soybeans 2-sided Brad Kooima, Kooima Kooima Varilek, has more.
November 27, 2023 09:17 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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