Mostly higher grain and livestock prices continue except feeders with help from outside markets especially the sharply lower dollar. Higher product values continue to support cattle and hogs and firm cash ideas. Brad Kooima of Kooima Kooima Varilek has more.
Markets Mostly Higher with Help from Outside Markets, Lower Dollar: Strong Product Supports Livestock, Firm Cash
Mostly higher grain and livestock prices, except feeders, with help from outside markets, like a lower dollar. Higher product values support cattle and hogs and firm cash ideas. Brad Kooima of Kooima Kooima Varilek
December 13, 2022 11:37 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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