Cattle On Feed Sets The Tone For Second Half 2022 Supply

April fed cattle futures dropped a sharp 4.85 this week. Unlike almost every other agricultural market we feel this is a reasonable change. Futures have been holding significant premiums to cash cattle trade for the weeks ahead. Given changes in the Russia story and what appears to be a well-supplied beef market through summer, premiums have been removed. Cattle on Feed would be seen as neutral Friday afternoon.

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