Kleist Comments


Cattle: Cash cattle last week: $155.00-157.50, Neb dressed $246.00; on 63 boxed loads cut outs up. $2.02(c)/$1.69 (s) on light movement.
Comments: Nice follow through buying. A bit of a bullish surprise to some was the sharp jump in choice beef prices so soon after the weekend. Hence the futures discount found support off early-week strong beef demand that might translate into firmer cash cattle this week.

Hogs: Interior hogs N/C east/west.
Pork cut outs fell $.96 in midday wire .
Comments: Technically August’s fall last week under its major m/a’s set the stage for today’s break, likely long liquidation. October hogs found spill over selling with it, back months still PEDV sensitive?


Corn: Easy call today as great weekend weather and good forecasts this week keeps ideas of higher yield in place.

Soybeans: More overnight export sales old crop to China boosted the August contract to modest gains. A large new crop soymeal sale added light support but good weather overwhelmed both the sales keeping pressure on the new crop.

Wheat: New swing lows by a cent or so but by later session prices moved away from them. Open interest & some trade talk seems to be indicating bottom picking looking for a seasonal low. The Russian/Ukraine crisis has had minor effect so far.


Kleist Comments

This is John Kleist, of Kleist Ag Consulting.
Questions? Email me: johnwkleist@sbcglobal.net

Disclaimer: Trading options and commodities involves risk of loss and my not be for every investor. Past trading results may not be indicative of future performance. Although information and opinions provided herein are compiled from sources believed reliable, the sender, EBOT Trading, or its principals cannot attest as to accuracy or assume any responsibility for any errors or omissions as the information may not be complete or events may have changed.