Early calls: Cattle steady to higher, technical support

 Resize text         Printer-friendly version of this article Printer-friendly version of this article

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).

For more news and information



Comments (0) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left


Bobcat 3650

The Bobcat 3650 utility vehicle offers heat and air conditioning, a hydrostatic drive and the capacity to operate front-mounted PTO ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Leads to Insight