Cattle futures continue to grind out new highs for the move with help from steady to $1 higher cash.  Scott Varilek, Kooima Kooima Varilek, says most of the cash has been at $187.  Choice boxes are around $310 which is also supportive.  However, cattle are getting into stiff chart resistance so how high can the market run?  Hogs are also grinding higher on technical buying and slightly lower supplies than expected.  Grains are putting in war and weather premium so without a bearish surprise in the WASDE can the markets continue to rally?  

Cattle futures continue to grind out new highs for the move with help from steady to $1 higher cash.  Scott Varilek, Kooima Kooima Varilek, says most of the cash has been at $187.  Choice boxes are around $310 which is also supportive.  However, cattle are getting into stiff chart resistance so how high can the market run?  Hogs are also grinding higher on technical buying and slightly lower supplies than expected.  Grains are putting in war and weather premium so without a bearish surprise in the WASDE can the markets continue to rally?

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.

Markets Now Early Markets 10-11-24

Brad Kooima, Kooima Kooima Varilek says cattle futures are mostly higher early Monday on better cash news and trying to negate Friday's reversal. Lean hog futures ease on profit taking. While corn and soybeans see pressure from harvest and South American rain chances.  

Brad Kooima, Kooima Kooima Varilek says cattle futures are mostly higher early Monday on better cash news and trying to negate Friday's reversal. Lean hog futures ease on profit taking. While corn and soybeans see pressure from harvest and South American rain chances.

Markets Now Early Markets 10-14-24

Grains end lower after a non eventful WASDE.  Oliver Sloup, Blue Line Futures, says grains saw some profit taking heading into the weekend with row crops seeing harvest pressure and focusing on South American weather, with rain chances in Brazil.  He says a shift in election polls giving Trump a slight edge may have also played into China tariff talk which would be negative.  Live cattle futures hit chart resistance and ended lower, despite steady to $1 higher cash trade.  Lean hogs made new highs for the move in all but the October as funds continue to buy.   

Grains end lower after a non eventful WASDE.  Oliver Sloup, Blue Line Futures, says grains saw some profit taking heading into the weekend with row crops seeing harvest pressure and focusing on South American weather, with rain chances in Brazil.  He says a shift in election polls giving Trump a slight edge may have also played into China tariff talk which would be negative.  Live cattle futures hit chart resistance and ended lower, despite steady to $1 higher cash trade.  Lean hogs made new highs for the move in all but the October as funds continue to buy.

Markets Now Closing Markets - 10-11-24 Audio

Corn and soybeans end lower on harvest pressure, but John Heinberg with Total Farm Marketing says the row crop markets are removing South American weather premium and jockeying ahead of the WASDE Report out Friday morning.  Wheat saw additional fund short covering and was adding risk premium with dryness in Russia and possible export curbs.  Cattle make new highs for the move with steady to $1 higehr cash.  Hogs followed cattle but also saw strong weekly exports.  But will the funds keep pusing the meat markets? 

Corn and soybeans end lower on harvest pressure, but John Heinberg with Total Farm Marketing says the row crop markets are removing South American weather premium and jockeying ahead of the WASDE Report out Friday morning.  Wheat saw additional fund short covering and was adding risk premium with dryness in Russia and possible export curbs.  Cattle make new highs for the move with steady to $1 higehr cash.  Hogs followed cattle but also saw strong weekly exports.  But will the funds keep pusing the meat markets?

Markets Now Early Markets 10-11-24

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