Hog Prices-Markets
Joe Kooima of Kooima Kooima Varilek says both live and feeder cattle futures gapped higher into all-time and contract highs again on Monday morning on the heels of the bullish USDA Cattle on Feed and Cattle Inventory Reports. Grains opened lower as weather is trumping export and trade news.
Scott Varilek with Kooima Kooima Varilek says both live and feeder cattle futures had a nice recovery and got within striking distance of the all-time highs set earlier in the week.
The U.S. Meat Export Federation is urging the Office of the U.S. Trade Representative to review pork and beef trade barriers.
Brad Kooima with Kooima Kooima Varilek says the cattle futures opened lower on Monday on follow through selling after the bearish reversals scored on Friday. Corn and soybeans fall with rains over the weekend in the Corn Belt.
Brad Kooima of Kooima Kooima Varilek says cattle futures are seeing some routine profit taking after hitting all-time and record highs again on Friday. Corn is seeing short covering off fresh contract lows but can it hold any gains?
Live and feeder cattle futures opened lower on Friday but quickly turned higher with strong cash news according to Scott Varilek, Kooima Kooima Varilek. Grains see pressure from weather and the risk off outside market influences tied to the proposed tariff increases on Canada to 35% by Aug. 1
Brad Kooima, Kooima Kooima Varilek, says cattle futuresare showing resilience early Monday due to better than expected cash trade. However, grains are seeing heavy selling pressure.
Scott Varilek of Kooima Kooima Varilek says cattle futures are trading higher building on Wednesday’s big reversal which was initially triggered by trade news but then better than expected cash trade added to the rally. Grains are also higher on hopes of an announced deal with China.
Joe Kooima of Kooima Kooima Varilek says live and feeder cattle futures had a gap lower opening this morning on news from USDA of a phased re-opening of the border to Mexican cattle starting July 7.
Scott Varilek, Kooima Kooima Varilek, says cattle futures are holding together despite lower cash trade, while grains are finally seeing a bounce in reaction to a China deal on rare earths.
Scott Varilek with Kooima Kooima Varilek says cattle futures are trying to recover after tanking Tuesday due to geopolitical and war concerns and the lower day in the stock market.
In one second, years of audience-building and customer relationships were lost for Chris and Kaitlyn Hofschulte, showpig breeders in Miami, Okla.
Brad Kooima of Kooima Kooima Varilek says cattle futures started the day higher in recovery mode after a poor technical close on Friday and a bearish reversal lower for the week. Soybeans continue to rally on the heels of the surge in bean oil on EPA’s surprise biofuels news.
Meat Institute’s Julie Anna Potts says President Trump has an opportunity to solve the agriculture labor crisis that has challenged farmers and ranchers for decades.
Scott Varilek, Kooima Kooima Varilek, says cattle are seeing risk off selling tied to the news overnight of escalating war between Iran and Israel which has the financial markets sharply lower. Bean oil is limit up on news of higher blending levels for biomass based diesel.
Brad Kooima with Kooima Kooima Varilek says cash cattle trade shattered previous records last week and the futures are continuing to make new all-time highs on Monday in both live and feeder cattle futures.
Scott Varilek, Kooima Kooima Varilek, says cattle futures gapped higher on the opening Friday and made all-time highs once again. Futures are still chasing record cash.
Lee Schulz and Chip Flory discuss current supply and demand in the beef and pork industries and what’s ahead.
Brad Kooima, Kooima Kooima Varilek, says cattle rally chasing record cash with the basis historically wide.
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.
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.
Scott Varilek, Kooima Kooima Varilek, says ag markets are seeing red with the threat of 50% tariffs on all EU imports.
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.
The markets have several big headlines they’re digesting including news over the weekend that China and the U.S. are de-escalating the tariff war.
Scott Varilek, Kooima Kooima Varilek, says cattle continue to hit all-time highs in cash and futures. While corn is seeing some short covering after new lows for the move on Thursday.
As trade negotiations continue with China and Mexico, USMEF’s Dan Halstrom and Illinois pig farmer Chad Leman share their perspectives on what’s ahead for pork and beef producers.
Brad Kooima, Kooima Kooima Varilek, says cash cattle trade was record high again last week with $223 live paid in much of the North and even a few $224 trades to a regional. Grains are mostly lower.
Brad Kooima, Kooima Kooima Varilek, says grains are seeing pressure on weather. However, both live and feeder cattle futures are making new contract and all-time highs on last week’s record cash.
Brad Kooima, Kooima Kooima Varilek, says grains lose early strength running into chart resistance. While cattle also started higher with the sharply higher cash trade Thursday but faded.