A mostly lower start in the ag markets Thursday.  Scott Varilek, Kooima Kooima Varilek, says after new highs for the move in cattle futures yesterday there is some hedge pressure and profit taking, plus packers talking about kill cuts and weights in the South are still above last year.  However, it looks like cash trade is going to be higher again this week with some $186 in the South already and $187-$188 in the North paid by a regional and producers asking $190.  Hogs are fading strong exports and seeing some profit taking after near term highs were hit there as well.  Grains are mostly lower with rain chances in the South American forecast and the funds nearly out of ammunition to cover shorts, plus prices have run into some chart resistance.  

A mostly lower start in the ag markets Thursday.  Scott Varilek, Kooima Kooima Varilek, says after new highs for the move in cattle futures yesterday there is some hedge pressure and profit taking, plus packers talking about kill cuts and weights in the South are still above last year.  However, it looks like cash trade is going to be higher again this week with some $186 in the South already and $187-$188 in the North paid by a regional and producers asking $190.  Hogs are fading strong exports and seeing some profit taking after near term highs were hit there as well.  Grains are mostly lower with rain chances in the South American forecast and the funds nearly out of ammunition to cover shorts, plus prices have run into some chart resistance.

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.