Forecasters across the country are calling for a huge winter storm system to blanket the Midwest this week. As we wait to see what predictions will be correct, traders at the Chicago Mercantile Exchange are staying on top of the weather too. Tom Leffler of Leffler Commodities in Augusta, Kansas says the livestock markets have had the largest reaction to the weather system.
Audio: Tom Leffler
On the cattle side of the Mercantile, Leffler says it’s about the challenge of just staying warm.
Audio: Tom Leffler 2
Which is likely what stimulated much of the upside action for the cattle market in Monday’s trade.
As for the grain markets on the Board of Trade, Leffler says much of that upside movement stems from activities taking place around the globe.
Audio: Tom Leffler 3
Although the corn, bean and wheat markets finished well over a dime higher Monday, Leffler warns there’s nothing real solid in the grains to bank on right now. He says this first day of February could become a become a turn-around-Tuesday and send the markets lower.