Cattle futures are called steady to higher in pre-holiday position squaring by traders. Since key chart support held recently despite what traders are calling a “murky” fundamental outlook and futures are still at a discount to cash cattle and packer losses are shrinking, there’s not much of a case for selling just yet. The biggest threat is to cash market bids on the slightest drop in retail demand. Even though packer margins have improved sharply the past week, the packer margin index is still negative by $25 per head. (A week ago packers were losing nearly $88 per head).
Early calls: Cattle steady to higher, technical support
- Feeder cattle review: Weather, light receipts limit market action
- Control weeds now for better pastures this summer
- Cattle Outlook: Boxed beef prices advance, fed prices retract
- Using the “Nebraska advantage” to grow the livestock industry
- U.S. readies for more 'extremely tough' trade talks with Japan
- Export markets for US ethanol
Magnum Top Load Spreaders
Nuhn Industries Ltd.