Livestock futures give up early gains with more fund selling despite friendly outside markets. Grains trying to hold gains with dollar plunging, with soybeans still consolidating. Michelle Rook talks with Brad Kooima of Kooima Kooima Varilek.
Livestock See Technical Selling Giving up Early Gains Despite Friendly Outside Markets, Grains Hold Together With Plunging Dollar
Livestock futures give up early gains with more fund selling despite friendly outside markets. Grains trying to hold gains. Michelle Rook talks with Brad Kooima of Kooima Kooima Varilek.
October 04, 2022 11:26 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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