A mostly higher close except wheat, with continued short covering in corn and beans but how much more recovery will we see? Cotton prices are firmer with better China demand prospects while cattle move back higher following a rally in cash. Shawn Hackett with Hackett Financial Advisors has details.
Row Crops & Cotton See More Recovery, Will it Last? Cattle Pulled Higher by Strong Cash
A mostly higher close except wheat, w/ more short covering in corn and beans but how much more recovery will we see? Cotton prices firmer, while cattle up following cash. Shawn Hackett, Hackett Financial Advisors.
March 03, 2023 02:07 PM
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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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