Cattle Stuck Between Processing Delays and Supportive Reports Ahead December 20, 2022
Bears are suggesting two weeks of light processing disruptions, then a holiday reduced run next week, are drivers for fed cattle. Bulls question how much of a disruption this will be given long term supply declines ahead. Last week's cattle kill was trimmed by another 4,000 head, now at 625,000. This was -5.0% from one year ago. The prior four weeks averaged -0.9%. With a weather impacted 100,00 head yesterday, and light concerns over the next few days, bears have a minor argument as we go into next week's holiday reduced processing.
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