Grain and livestock prices continue under pressure as the macroeconomic markets weigh on commodities, especially the new highs in the dollar. Cattle react to Cattle on Feed news and hogs see follow through selling after lower weekly closes. Michelle Rook talks with Jeff Hoogendoorn of Professional Ag Marketing.
Markets Stay Red at Midday with the Dollar up to New Highs
Grain and livestock prices continue under pressure as the macroeconomic markets weigh on commodities, especially the new highs in the dollar. Michelle Rook talks with Jeff Hoogendoorn of Professional Ag Marketing.
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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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