Cattle open higher on the heels of steady to slightly higher cash trade, then trade two-sided.  Brad Kooima, Kooima Kooima Varilek, says the cash will likely be steady this week which may mean the futures could stall out.  The key will be if funds defend their long position in the market.  Funds are long in the lean hogs as well but that market is looking toppy.  Grains are mixed early with corn and soybeans seeing a lack of fund short covering due to harvest pressure and forecasted rains in South America, so that party may be over according to Kooima.  How low could prices go?  

Cattle open higher on the heels of steady to slightly higher cash trade, then trade two-sided.  Brad Kooima, Kooima Kooima Varilek, says the cash will likely be steady this week which may mean the futures could stall out.  The key will be if funds defend their long position in the market.  Funds are long in the lean hogs as well but that market is looking toppy.  Grains are mixed early with corn and soybeans seeing a lack of fund short covering due to harvest pressure and forecasted rains in South America, so that party may be over according to Kooima.  How low could prices go?

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.