Scott Varilek, Kooima Kooima Varilek, says cattle futures are chasing exploding cash early Friday, with more record high prices paid in all areas. Corn and soybeans continue to be weak with mostly favorable weather.

Check out Sterling Marketing’s Profit Tracker for the week of May 24.

Brad Kooima of Kooima Kooima Varilek says cattle futures are seeing some early weakness despite last week’s record cash and neutral USDA Cattle on Feed Report compared to expectations. Corn is down with wheat and mostly favorable weather.

Dr. Derrell Peel, Extension livestock marketing specialist with Oklahoma State University, says the on feed number has been below year ago levels the last four months.

Scott Varilek, Kooima Kooima Varilek, says ag markets are seeing red with the threat of 50% tariffs on all EU imports.

Live cattle futures continue to ignore the strength in spot cash trade with a sharp downside correction last Wednesday, extending into Thursday, pulling $5/cwt.

Check out the latest Sterling Marketing Profit Tracker from week of May 17.

Brad Kooima of Kooima Kooima Varilek, says cattle futures are in recovery mode for a second day after scoring key weekly reversals last week on the charts, a bearish sign of a possible top. Corn is also trying to bounce after new lows for the year in the December contract.

Scott Varilek, Kooima Kooima Varilek, says after two ugly down days in cattle futures the markets are trying to recover and so is the soybean market.

Check out the Sterling Marketing Beef Profit Tracker ending week of May 10.