Grain and livestock are mostly higher, except cattle.  Scott Varilek, Kooima Kooima Varilek, says cattle traded two-sided tyring to recover and overcome profit taking and hedge selling.  The market needs some new bullish news to push December live cattle over $190, including higher cash.  Boxed beef values have improved and so have packer margins so they should be able to pay up.  Hogs broke the uptrend line yesterday but funds bought on the break especially with cash up sharply Tuesday.  Corn and soybeans rebound after holding chart support but mostly due to flash export sales of 80 million bushels of corn and 6.4 million of soybeans.  So end users see value.  

Grain and livestock are mostly higher, except cattle.  Scott Varilek, Kooima Kooima Varilek, says cattle traded two-sided tyring to recover and overcome profit taking and hedge selling.  The market needs some new bullish news to push December live cattle over $190, including higher cash.  Boxed beef values have improved and so have packer margins so they should be able to pay up.  Hogs broke the uptrend line yesterday but funds bought on the break especially with cash up sharply Tuesday.  Corn and soybeans rebound after holding chart support but mostly due to flash export sales of 80 million bushels of corn and 6.4 million of soybeans.  So end users see value.

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.