Cattle and Grains Mostly Lower
Cattle Futures See Short Covering Bounce
Hogs Higher
Cattle and grain markets were mostly lower early Monday, with hogs trading higher. Scott Varilek of Kooima Kooima Varilek says cattle are trying to recover after a lower week.
Grain markets made some new lows, with corn and soybeans both trading down. Jerry Gulke says there's potential for grain prices to go even lower, with the risk of a bumper crop and old crop inventory still in farmers' hands.
Both live and feeder cattle futures saw a short covering bounce Monday and triple-digit gains. That followed another lower week last week.
Chicago Mercantile Exchange CME feeder cattle futures fell again on Thursday amid ongoing profit-taking as some market participants.
Conclusion
The cattle and grain markets are in a state of flux, with prices moving in different directions. Cattle futures are trying to recover after a lower week, while grain markets are making new lows. Hogs are the only bright spot, with prices trading higher. It remains to be seen how these markets will perform in the coming weeks and months.
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