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.

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