Cattle post new contract highs. October 21, 2022
Cattle finished the week with a big win. December fats ended the week +4.65 while November feeders ended +3.57. Friday's trade was characterized by late-day strength and a close to new contract highs. The stock market is now questioning whether further interest rate hikes ahead will be more measured than previously thought. The seasonal holiday procurement period for November needs is ongoing. Weekly offered cattle supplies are beginning to show the expected tail-off into Q4. After the close, Cattle on Feed was neutral.
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