Cattle mxed with hogs lower at midday but what is it going to take to bottom the hog market? Grains trying to hold gains led by wheat, which may be putting risk premium in. Have soybeans taken out enough Argentina weather premium? Jeff Hoogendoorn of Professional Ag Marketing has analysis.
Livestock Mixed, Cattle Awaiting Cash Direction: Grains Firmer Led by Wheat but Have Soybeans Taken Out Enough Weather Premium?
Livestock mixed, with cattle awaiting cash direction. Grains trying to hold gains led by wheat, have soybeans taken out enough weather premium? Jeff Hoogendoorn of Professional Ag Marketing has analysis.
January 25, 2023 11:45 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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