Markets
Check out the Sterling Marketing Profit Tracker for week of Oct. 3.
Last week the live and feeder cattle futures technically looked promising says Joe Kooima of Kooima Kooima Varilek, but then the market posted lower weekly closes.
Cattle futures ran into chart resistance after new highs for the move on Thursday and on live cattle the market tested the long term trend line.
Kyle Bumsted of Allendale says the market is seeing technical buying and is right up into chart resistance.
Check out the Sterling Marketing Profit Tracker for week of Sept. 26.
Joe Kooima with Kooima Kooima Varilek says the cattle charts are looking more friendly after last week. While grains are disappointed in the lack of details from the China trade summit.
Varilek says the slowdown in slaughter tied to ICE raids has hurt producers leverage in the cash market and it has been reflected in northern bids.
Check out the Sterling Marketing Profit Tracker for week of Sept. 19.
Joe Kooima of Kooima Kooima Varilek says the report is the kind of trigger needed to change the momentum in the cattle market.
Scott Varilek with Kooima Kooima Varilek says the market has seen sloppy trade and profit taking with news of the Santa Teresa port opening but it isn’t new news.
Check out the Sterling Marketing Profit Tracker for week of Sept. 12.
Joe Kooima of Kooima Kooima Varilek says while last week’s higher weekly closes send a strong signal a bottom is in place in the cattle market, he’s not ready to say funds will be piling back in to buy yet.
Scott Varilek with Kooima Kooima Varilek says the recovery in the cattle market this week feels good but he is watching for several signs to feel confident about sustaining it.
Check out the Sterling Marketing Profit Tracker for week of Sept. 5.
Brad Kooima with Kooima Kooima Varilek says the presidential executive orders will not have any immediate impact on the cattle industry or the market.
Scott Varilek with Kooima Kooima Varilek says the cattle market is very oversold and due for a bounce but the long term charts have been damaged.
Check out the Sterling Marketing Profit Tracker for week of Aug. 29.
Cattle futures were trying to bounce early Monday as both live and feeder cattle are oversold after lower weekly closes says Brad Kooima with Kooima Kooima Varilek. However, he was cautious about it holding.
Scott Varilek with Kooima Kooima Varilek says after a bounce on Thursday many producers were asking if a bottom was starting to be forged but the negative stories won’t die down.
Check out the Sterling Marketing Profit Tracker for week of Aug. 22.
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 early Friday.
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?