Cattle futures ignore lower cash cattle trades, heat gets the attention. August 24, 2023
Fed cattle rallied from another morning retest of chart support. Lower cash cattle trades were confirmed but heat's impact on weights and possibly cow culling is now a discussion point.
Nebraska traded $292 - $295 dressed cash cattle today. That would be considered steady/lower from last week's $294//$295. Iowa saw live based sales at $185. That is -$2 from last week.
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Allendale Insider
Allendale Insider
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Market Movers
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December found light support at 474 yesterday/last night, chart open to 467 ¾, rains added again.
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Harvest at 9%, analysts expected 10%, the forecast may slow harvest days 1 – 5
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Funds were aggressive sellers of 41K, now short 135K or 42% of record, solid harvest forecast.
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Snapshots
Snapshots