Hog Prices-Markets
Brad Kooima with Kooima Kooima Varilek says there were a couple of reasons the market ignored the strike and the biggest was the higher equity markets and lower crude oil
Cattle futures are higher early Friday in tandem with the bounce in the equity markets and the pull back in crude oil and the energy markets according Scott Varilek of Kooima Kooima Varilek.
Cattle futures are sharply lower on Monday with feeder cattle touching limit down at one point on economic uncertainty according to Brad Kooima of Kooima Kooima Varilek.
Scott Varilek with Kooima Kooima Varilek says the uncertainty of the war in Iran has caused some reallocation of money this week.
Brad Kooima of Kooima Kooima Varilek says the grain and cattle futures are reacting negatively to the uncertainty tied to the Iran conflict.
Brad Kooima with Kooima Kooima Varilek says the USDA Cattle on Feed report was providing some support. The on feed number came in at 98% of a year ago, placements were at 95% which was below trade estimates and marketings were at 87%.
Scott Varilek with Kooima Kooima Varilek says the cattle market is also awaiting cash direction.
Brad Kooima of Kooima Kooima Varilek says cattle futures are getting overbought and ran into another layer of chart resistance Wednesday but higher cash could push the market to new highs.
Scott Varilek with Kooima Kooima Varilek says the cattle futures have been chopping back and forth this week and need to take out last week’s highs on the charts to break out and to new highs.
Live and feeder cattle futures were higher early Monday extending gains after Friday’s higher cash trade says Brad Kooima of Kooima Kooima Varilek.
He thinks cash could be higher again this week.
He thinks cash could be higher again this week.
Scott Varilek with Kooima Kooima Varilek says after crashing Thursday on fears of a beef plant strike, cattle are recovering on higher cash.
Joe Kooima of Kooima Kooima Varilek says the cattle markets have gotten caught up in the outside market money flow but are also seeing some caution ahead of the USDA semi-annual cattle inventory report to be released Friday.
Brad Kooima with Kooima Kooima Varilek says he was concerned the trade might view a slightly bearish Cattle on Feed report placement number as a reason to sell but the market was more focused on the higher cash trade Friday.
Live and feeder cattle futures were weaker to start Friday as the market was seeing some profit taking and caution ahead of the USDA Cattle on Feed Report according to Scott Varilek with Kooima Kooima Varilek.
Brad Kooima of Kooima Kooima Varilek says with the confirmation of no cases of NWS in the U.S. the cattle market should rebound Tuesday. However, with outside markets seeing risk off selling that may temper some of the buying interest in cattle.
Joe Kooima with Kooima Kooima Varilek says cattle futures were down early on liquidation ahead of the three day weekend, lack of fed cash news and a rumor of NWS in the U.S.
Brad Kooima with Kooima Kooima Varilek says strong cash has been supportive of the cattle futures and he expects a higher week in the fed market again this week. Grains are still digesting USDA’s bearish reports.
October results are in and the data is positive for the U.S. red meat industry.
Live and feeder cattle futures were lower early Friday but Scott Varilek of Kooima Kooima Varilek says it didn’t take long for the markets to firm up supported by the cash market.
Brad Kooima with Kooima Kooima Varilek says the recent strength in cattle has been a combination of fund buying and higher cash trade. He predicts that will continue into first quarter of 2026.
Scott Varilek with Kooima Kooima Varilek says cattle futures saw a chart breakout, pushed by fundamental factors. Meanwhile, the soybean market saw technical selling and pressure from mostly favorable weather in South America.
Rich Nelson with Allendale, Inc. says there is a general lack of news for the grain markets so some of the pressure is coming from end of the quarter and end of the year positioning by traders.
Joe Kooima with Kooima Kooima Varilek says the live and feeder cattle futures board has remained sideways since around Dec. 11. However, there is one thing that could break that trend.
Live and feeder cattle futures made new highs for the move Monday morning after a strong close Friday and higher weekly closes. However, the big catalyst is the bullish USDA Cattle on Feed Report data according to Rich Nelson of Allendale, Inc.
Scott Varilek, Kooima Kooima Varilek says live cattle futures are higher despite some lower Northern cash trade. However, this week the trend has been sideways with the market unable to take out chart resistance.
The reliance of the U.S. on China for its vitamins has created a dependency that poses a significant threat to U.S. food security, the agricultural community, and public health, lawmakers pointed out to President Trump.
Brad Kooima with Kooima Kooima Varilek says the cattle futures are overbought after last week’s higher weekly closes. So this is a healthy correction.
Brad Kooima says both live and feeder cattle futures markets struggled Monday as the huge recovery off the lows put contracts up into 50% retracement levels.
Scott Varilek with Kooima Kooima Varilek says Thursday saw the volume of live sale prices at $220, up $10 from last week but even some $222 developed in Iowa.
Brad Kooima of Kooima Kooima Varilek says he would be more confident about the lows holding in the cattle futures if three factors would turn positive.