Markets Today
Joe Kooima of Kooima Kooima Varilek says the funds were liquidating long positions on the open Friday after President Donald Trump said the administration was working on a plan to lower beef prices. Some of it was triggered by algorithm trades that key their formulas off headlines.
Brad Kooima of Kooima Kooima Varilek says November feeder cattle futures were up over $20 last week and have led the rally on strong cash, tight supplies and the continued cases of New World Screwworm (NWS) in Mexico keeping the border shut.
Scott Varilek, Kooima Kooima Varilek says the feeder futures have put on $22 this week and were due for a correction but still project to $388. Grains see pressure from China trade news.
Brad Kooima, Kooima Kooima Varilek, says the market is staying intact and absorbing a great deal of bearish news including last week’s lower fed cash trade and lower cutouts.
Scott Varilek with Kooima Kooima Varilek says it has been another volatile week in the cattle futures but they are still trading sideways and holding the uptrend lines. Grains are pausing after hitting chart resistance.
Brad Kooima of Kooima Kooima Varilek says live and feeder cattle futures are higher early Monday. The cash feeder market has continued to move higher, so will it be able to lead the cattle futures back to new highs?
Brad Kooima of Kooima Kooima Varilek says live and feeder cattle futures are sharply higher on Monday as news came late Sunday that New World Screwworm (NWS) had been detected 70 miles from the U.S. Mexican border. in an 8-month-old calf from a transported herd.
Scott Varilek with Kooima Kooima Varilek says cattle futures have seen a choppy week but are higher to start Friday after some better than expected cash trade.
Joe Kooima of Kooima Kooima Varilek says live and feeder cattle futures are higher early Monday but after a second week of lower weekly closes, he’s not sure if the market can retest the highs.
Scott Varilek with Kooima Kooima Varilek says live and feeder cattle futures are higher again on Friday morning with the third day of recovery after Tuesday’s melt down. They need to close above Thursday’s highs to have a shot at retesting the record highs.
Brad Kooima, Kooima Kooima Varilek, says the uptrend line on the cattle charts is also starting to be violated but that isn’t the only thing he’s watching for a signal of a bigger correction.
Brad Kooima of Kooima Kooima Varilek says live and feeder cattle futures are back into new contract and all-time highs after showing considerable resilience last week and despite a selloff in the equities. Grains sell off on tariff concerns.
Scott Varilek with Kooima Kooima Varilek says live and feeder cattle futures saw end of month profit taking on Thursday and some follow through selling to start Friday.
Brad Kooima of Kooima Kooima Varilek says live and feeder cattle futures gapped lower on the opening after a human case of New World screwworm (NWS) was announced over the weekend.
Scott Varilek with Kooima Kooima Varilek says the placements figure was slightly bearish and will likely mean a lower opening on Monday but the break is likely to be bought.
Scott Varilek, Kooima Kooima Varilek, says cattle fundamentals look supportive through fourth quarter, while corn and soybeans are running into chart resistance.
Brad Kooima of Kooima Kooima Varilek says there were signs in the cattle market prior to Friday’s sell-off indicating the market might be getting toppy. However, does the market negate the reversals like it has in the past?
Scott Varilek, Kooima Kooima Varilek, says cattle saw some early profit taking pressure after contract and record highs again Thursday. However, the cattle futures have been resilient and every break seems to get bought, which is a good sign of a bull market.
Brad Kooima of Kooima Kooima Varilek says cattle futures started higher early Monday on the heels of record cash. Grains tried to bounce but may have a tough time holding any gains with favorable weather, big yield ideas and trade uncertainty.
Scott Varilek with Kooima Kooima Varilek says live and feeder cattle futures are trying to recover after an ugly day Thursday that ended with bearish reversals. Grains are mixed on favorable weather and tariff news.
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.
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.