Markets
Scott Varilek with Kooima Kooima Varilek says the pressure came from fund long liquidation and was continuing on Friday with significant chart damage done.
Check out the Sterling Marketing Profit Tracker for week of May 16.
Grain and hog futures were sharply higher on Monday morning as the White House released details of the China trade framework on Sunday which includes $17 billion of ag purchases per year.
Scott Varilek with Kooima Kooima Varilek says cattle futures are back trading higher with their huge discount to the record cash trade. He says cash trade could get even crazier.
Check out the Sterling Marketing Profit Tracker for week of May 9.
Cattle futures posted lower weekly closes and Brad Kooima with Kooima Kooima Varilek says the action was a red flag to him since it came after record fed cash trade.
Scott Varilek of Kooima Kooima Varilek says cash cattle trade hit record levels on Thursday and helped pull futures higher Friday. Grains are trying to recover from the big wash out with crude oil this week.
Check out the Sterling Marketing Profit Tracker for week of May 2.
Brad Kooima of Kooima Kooima Varilek says it is dangerous to try to pick a high in this cattle market but it fits the profile of a technical top.
Scott Varilek of Kooima Kooima Varilek says tight supplies and a record cash market have supported the move to new highs. How high can live and feeder cattle futures run?
The beef industry is looking toward “Beef Month” to sustain the strongest market rally in history.
Check out the Sterling Marketing Profit Tracker for week of April 25.
Brad Kooima with Kooima Kooima Varilek says some of the recovery is technical in nature as the June live cattle bounce off of key support and the 38% retracement level around $243.00 last Thursday. However, there are also fundamental reasons for bounce.
Scott Varilek with Kooima Kooima Varilek says $243 was the line in the sand for the June live cattle or funds would liquidate and it held after Brooke Rollins canceled her trip to Arizona which alleviated fears of a border reopening.
Check out the Sterling Marketing Profit Tracker for week of April 18.
Joe Kooima, Kooima Kooima Varilek says live cattle futures held key support on Friday and are higher Monday but can the market retest the record highs?
Scott Varilek with Kooima Kooima Varilek says cattle plunged late week after contract highs due to fears of the border reopening to Mexican imports.
Despite a historic 15% Prime grade achievement, heavier carcass weights and excess backfat are creating new hurdles for the Certified Angus Beef brand.
Check out the Sterling Marketing Profit Tracker for week of April 11.
Live cattle futures made new and all-time contract highs on Friday with the April contract closing above $250.
Scott Varilek with Kooima Kooima Varilek says the cattle market has been impressive and resilient.
Check out the Sterling Marketing Profit Tracker for week of April 4.
Brad Kooima with Kooima Kooima Varilek says the live cattle futures are chasing sharply higher cash trade from last week.
Check out the Sterling Marketing Profit Tracker for week of March 28.
Brad Kooima with Kooima Kooima Varilek says the rally late last week was impressive considering the equity markets were sharply lower on Thursday and Friday plus crude oil was higher.