Hog Prices-Markets
Dave Chatterton, Strategic Farm Marketing, says grain markets rebounded late session led by wheat.
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.
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.
Chip Nellinger, Blue-Reef AgriMarketing says grains rally with corn pulling up the rest of the complex on South American weather concerns.
Chuck Shelby, Risk Management Commodities, says grains close higher seeing fund buying and consolidation with the markets still digesting possible tariffs and South American weather.
DuWayne Bosse, Bolt Marketing, says corn and wheat are trying to recover Tuesday with fund short covering.
The U.S. IPO market is set for a historic week ahead.