Cash cattle traded lower last week. Stability is expected this week. August 1, 2022
Stability for cattle futures today was a minor victory. Cash cattle traded near the low of the year last week. US cattle supply offered has been large in recent weeks and the trade is concerned over the US consumer. Expectations for clear supply tightening remain weeks away. Feeders posted their second best close of the uptrend.
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Allendale Insider
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Possible light fund short covering yesterday
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Funds sellers of 21K, slightly higher support due to exports
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SA maps still look solid for rains in the 10 day
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Trade expects strong exports and more 8 AM announcements
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Open interest continues to fall drastically
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