Alan Brugler, A&N Economics, says grains pulled back Friday on profit taking after hitting chart resistance and with uncertainty about trade and administrative policies.
Scott Varilek with Kooima Kooima Varilek says cattle futures are trying to recover after the trifecta that tanked the futures Thursday and pulled down cash as well. Grains are lower on profit taking and SA weather.
Dave Chatterton, Strategic Farm Marketing, says grain markets rebounded late session led by wheat.
Kevin Good, Vice President of Industry Relations and Analysis with CattleFax, says the herd is still shrinking and so are slaughter levels and that will mean more record prices in 2025.
Brad Kooima, Kooima Kooima Varilek, says cattle futures continue to consolidate off recent record highs in routine profit taking mode. Grains extended gains on hopes for a China deal and the pause on tariffs for Canada and Mexico.
John Heinberg, Total Farm Marketing, says grains opened lower on Monday but recovered shortly after the opening when news broke that the U.S. would delay tariffs on Mexico for 30 days to allow negotiations.
Brad Kooima, Kooima Kooima Varilek, says grain and livestock futures opened mostly lower in response to tariffs imposed on China, Canada and Mexico over the weekend and retaliatory measures from those countries.
Bryan Doherty with Total Farm Marketing says most markets had a negative reaction to to the 25% tariffs on Mexican and Canada starting this weekend and possible retaliation.
USDA’s annual Cattle Inventory Report released Friday shows the U.S. total cattle inventory shrunk another 1% over the past year, with the number of beef cows also down 1%.
Randy Martinson, Martinson Ag, says grain and hog markets opened lower reacting to President Trump announcing Thursday afternoon the U.S. would be moving ahead with 25% tariffs on Mexico and Canada on Feb. 1.