A lower day in ag markets except for cattle.  Scott Varilek, Kooima Kooima Varilek, says cattle futures started lower with the drop in boxed beef values yesterday.  However, the market made new highs for the move again into the close pushed by higher cash trade.  Southern live trade is at $184 to $185.50, but mostly $185, which is $2 higher than last week.  Northern trade has been lighter, but some $187 in western Nebraska developing right after the close.  The negative talk of lower slaughter this week is actually a function of the numbers not being there.  Hogs saw some profit taking ahead of the Hogs and Pigs Report.  Grains ended lower as the end of quarter short covering and profit taking by the funds that produced this rally was overcome by an increase in farmer selling.  

A lower day in ag markets except for cattle.  Scott Varilek, Kooima Kooima Varilek, says cattle futures started lower with the drop in boxed beef values yesterday.  However, the market made new highs for the move again into the close pushed by higher cash trade.  Southern live trade is at $184 to $185.50, but mostly $185, which is $2 higher than last week.  Northern trade has been lighter, but some $187 in western Nebraska developing right after the close.  The negative talk of lower slaughter this week is actually a function of the numbers not being there.  Hogs saw some profit taking ahead of the Hogs and Pigs Report.  Grains ended lower as the end of quarter short covering and profit taking by the funds that produced this rally was overcome by an increase in farmer selling.

Michelle Rook talks daily with industry analysts to break down agricultural and commodity markets. 

Michelle Rook talks daily with industry analysts to break down agricultural and commodity markets.

Markets Now with Michelle Rook

Michelle Rook talks daily with industry analyst to break down agricultural and commodity markets. 

Michelle Rook talks daily with industry analyst to break down agricultural and commodity markets.

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