Cattle and hogs higher early, grains mixed.  Brad Kooima, Kooima Kooima Varilek, says cattle futures gapped higher on the open shaking off the bearish Cattle on Feed Report numbers and latching on to the weekend headline about New World Screw worm detected in a Mexican cow and border restrictions that followed.  He says the impact on the market will depend on the duration of import restrictions.  Cash cattle trade beat expectations with steady money in the North but $1 to even $2 higher trade in the South.  Hogs continue to consolidate with funds shedding some of their record length but are seeing spillover from higher cattle.  Corn saw another 17.9 million bu. of export business to Mexico this morning but is being drug down by wheat.  Soybeans scored a key reversal off contract lows on Friday but are also trading rumors of China buying 8-10 carogos for early February delivery.  

Cattle and hogs higher early, grains mixed.  Brad Kooima, Kooima Kooima Varilek, says cattle futures gapped higher on the open shaking off the bearish Cattle on Feed Report numbers and latching on to the weekend headline about New World Screw worm detected in a Mexican cow and border restrictions that followed.  He says the impact on the market will depend on the duration of import restrictions.  Cash cattle trade beat expectations with steady money in the North but $1 to even $2 higher trade in the South.  Hogs continue to consolidate with funds shedding some of their record length but are seeing spillover from higher cattle.  Corn saw another 17.9 million bu. of export business to Mexico this morning but is being drug down by wheat.  Soybeans scored a key reversal off contract lows on Friday but are also trading rumors of China buying 8-10 carogos for early February delivery.

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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