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Cattle open lower and then try to recover in a week that has seen a correction with plant closure concerns, lower boxed beef values and softer cash, at least in the South. Scott Varilek, Kooima Kooima Varilek, doesn't anticipate a huge correction in futures with the discount to cash and tight supplies. Lean hogs see a short covering bounce as they are oversold. Grains are lower in anticipation of a bearish WASDE, but he says much of it is already priced in after this week's selloff.
See omnystudio.com/listener for privacy information.
By Michelle RookCattle open lower and then try to recover in a week that has seen a correction with plant closure concerns, lower boxed beef values and softer cash, at least in the South. Scott Varilek, Kooima Kooima Varilek, doesn't anticipate a huge correction in futures with the discount to cash and tight supplies. Lean hogs see a short covering bounce as they are oversold. Grains are lower in anticipation of a bearish WASDE, but he says much of it is already priced in after this week's selloff.
See omnystudio.com/listener for privacy information.

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