Cattle futures opened higher and feeders are holding gains with lower but live cattle see some profit taking despite better cash news.  Brad Kooima, KKV, says the cash market has bottomed and he expects higher trade this week and he thinks cattle futures can technically build on last week's higher weekly closes.  He is watching $179.50 resistance in December live cattle for confirmation.  Hogs started mixed with the front months gaining on the deferreds with some forward spreading but Kooima says the market may continue to struggle to hold gains with rising seasonal numbers.  Soybeans open higher with more export business but continue to fight to get above the 50 day moving average, while corn is down with wheat Kooima thinks the lows are in.  He cautions though that both corn and soybeans may struggle to rally further with harvest pressure and farmer selling picking up.  

Cattle futures opened higher and feeders are holding gains with lower but live cattle see some profit taking despite better cash news.  Brad Kooima, KKV, says the cash market has bottomed and he expects higher trade this week and he thinks cattle futures can technically build on last week's higher weekly closes.  He is watching $179.50 resistance in December live cattle for confirmation.  Hogs started mixed with the front months gaining on the deferreds with some forward spreading but Kooima says the market may continue to struggle to hold gains with rising seasonal numbers.  Soybeans open higher with more export business but continue to fight to get above the 50 day moving average, while corn is down with wheat Kooima thinks the lows are in.  He cautions though that both corn and soybeans may struggle to rally further with harvest pressure and farmer selling picking up.

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.