Cattle complex continues the relentless downtrend. November 9, 2023
The cattle markets relentless fear driven downtrend continued today. New lows were noted for fats and feeders for this downtrend. At one point today January feeders tested the daily 8.25 limit before lightly settling off it. Normal daily limits, 6.75 for fats and 8.25 for feeders, remain in effect tomorrow. Current prices are now suggesting this market is bracing for a recession. That view may be a bit much.
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