Cattle futures re-evaluate both supply and demand expectations. September 23, 2022
Cattle posted a tougher than expected week. December fats noted -2.42 trade this week through consistent selling. The trade notes short term supplies are still slightly larger than needed. Demand has been a concern with now eight weeks of lower wholesale beef and renewed recession concerns from outside market sources. Friday's Cattle on Feed report would be considered slightly bearish. November feeders were hit -4.50 this week. Seasonal pressure continues.
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Possible light fund short covering yesterday
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Open interest continues to fall drastically
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