Wheat
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.
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.
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.
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.
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.
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.
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?
Scott Varilek with Kooima Kooima Varilek says cattle futures hit resistance on the charts despite higher cash. So what will it take to get through those resistance areas?
Scott Varilek with Kooima Kooima Varilek says there are signs he’s looking for yet in the cattle market to confirm the lows are in.
Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
Short on hands and mourning a loss, the Chapman family keeps a five-generation legacy rolling near Lee’s Summit.
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
Joe Kooima, Kooima Kooima Varilek says the question is whether or not a bounce in the cattle can hold or if funds will use it to exit more of their long positions.
Scott Varilek of Kooima Kooima Varilek says everybody’s looking for the bottom in the cattle market and wants to know if it is close.
Brad Kooima, Kooima Kooima Varilek, says the cattle charts look tough right now.
Scott Varilek with Kooima Kooima Varilek says cattle futures were seeing some profit taking early Friday as they are overbought. However, futures haven’t stayed down long with the strength in the cash market.
Live and feeder cattle futures made new highs for the move early Monday but ended well off highs. So can the markets retest the highs?
Cattle futures were lower early Thursday seeing some profit taking after some technical chart breakouts this week, but also positioning ahead of the holiday.
Brad Kooima says cattle were catching some spillover selling from the news the Iran peace deal had been signed, the higher equity markets and lower crude oil futures.
Scott Varilek with Kooima Kooima Varilek says the cattle market saw some pre-weekend positioning and was also trading news that a JBS beef slaughter plant in Pennsylvania was closing.
Ben Rand of Blue Line Futures says an unprecedented Western drought is shrinking crops, drying up wells, tightening hay supplies and accelerating cattle herd liquidation across the region
A case of New World Screwworm (NWS) only 52 miles from Texas was reported by USDA on Thursday making it the closest detection to the U.S. to date. Brad Kooima with Kooima Kooima Varilek says that is pressuring cattle futures.