Grain and livestock prices open higher with help from the risk on in the outside markets, especially the lower dollar. Grains also seeing support from the crop progress numbers. However, cattle struggle to hold early gains. Michelle Rook talks with Steve Freed of ADM Investor Services.
Markets Start off Higher With Help From Risk On in the Outside Markets: Grains Consolidating While Cattle Struggle to Hold Gains
Grain and livestock prices open higher with help from the risk on in the outside markets. However, cattle struggle to hold early gains. Michelle Rook talks with Steve Freed of ADM Investor Services.
October 04, 2022 08:50 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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