Markets Mixed to Higher as Traders take EOY Profits, Position Ahead of Holiday, and USDA Reports

Grain and livestock chop ahead of the holiday, with end of year positioning and profit taking. Cattle mixed and ignore stronger cash as livestock gear up for USDA reports. DuWayne Bosse, Bolt Marketing, has details.

Grain and livestock chop ahead of the holiday, with end of year positioning and profit taking. Cattle mixed and ignore stronger cash as livestock gear up for USDA reports. DuWayne Bosse, Bolt Marketing, has details.

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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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