Cattle Takes a Break, Soybeans Struggle Under Pressure May 2, 2023
Cash cattle likely topped two weeks ago. But that is not exactly bearish. Futures, with a normal basis, are implying, the South will fall to $167 cash in two months and $164 for the general low this summer. That's only a 6% break from spring high to winter low. The general rule is a 10% break which would imply $157 for a summer low for cash.
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