Markets
Brad Kooima of Kooima Kooima Varilek says the placements were 11% below last year and a bullish surprise for him and the trade. However, the President’s beef plan it stifling the recovery.
Scott Varilek with Kooima Kooima Varilek says the Truth Social post from President Trump that 300,000 MT of beef imports will enter the U.S. duty free over the next 90 days to lower beef prices tanked the cattle market.
Check out the Sterling Marketing Profit Tracker for week of Aug. 15.
Joe Kooima with Kooima Kooima Varilek says the cattle were down early Friday pricing in the plant closure news, but this time seems different regarding the long term implications for the market.
Check out the Sterling Marketing Profit Tracker for week of Aug. 8.
Brad Kooima of Kooima Kooima Varilek says live cattle failed at the 50% retracement levels, even with higher cash trade. So, what will it take to get through those resistance areas on the futures?
Scott Varilek with Kooima Kooima Varilek says cattle futures hit resistance on the charts despite higher cash. So what will it take to get through those resistance areas?
Check out the Sterling Marketing Profit Tracker for week of Aug. 1.
Brad Kooima of Koomia Varilek says the lows look like they are in the cattle market, but how much more recovery does he expect?
Scott Varilek with Kooima Kooima Varilek says there are signs he’s looking for yet in the cattle market to confirm the lows are in.
Check out the Sterling Marketing Profit Tracker for week of July 25.
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.
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.
Check out the Sterling Marketing Profit Tracker for week of July 18.
Joe Kooima, Kooima Kooima Varilek says the question is whether or not a bounce in the cattle can hold or if funds will use it to exit more of their long positions.
Scott Varilek of Kooima Kooima Varilek says everybody’s looking for the bottom in the cattle market and wants to know if it is close.
Check out the Sterling Marketing Profit Tracker for week of July 11.
Brad Kooima, Kooima Kooima Varilek, says the cattle charts look tough right now.
Early Friday cattle utures tried to stage an early recovery but it was short lived as funds have been selling every rally. Scott Varilek with Kooima Kooima Varilek says his fear is the high is in the cattle market.
Live cattle futures were lower again on Wednesday and have spent several consecutive days under the 100-day moving average. Brad Kooima with Kooima Kooima Varilek says it is looking like more than a healthy correction.
Check out the Sterling Marketing Profit Tracker for week of July 4.
Joe Kooima of Kooima Kooima Varilek says funds continue to pressure the cattle futures and he anticipates that will continue after last week’s lower weekly closes.
Scott Varilek with Kooima Kooima Varilek says cattle futures were struggling early Thursday with lower cash as the packers are trying to break the market with their own inventory.
Heavier cattle are bridging the supply gap, but the industry is testing the upper limits of “acceptable” as backfat and ribeye sizes swell.
Check out the Sterling Marketing Profit Tracker for week of June 27.
Brad Kooima of Kooima Kooima Varilek says cattle futures are down with a risk off day in the ag markets. End of quarter profit taking and talk of a packer bailout is also weighing on futures.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Check out the Sterling Marketing Profit Tracker for week of June 20.