New Highs for Live Cattle While Hogs Post New Lows February 6, 2023
Cattle are a tale of different worlds right on. On the live animal end the only discussion is low supplies. Last Tuesday's bi-annual Cattle report showed the trade -3.6% year/year for the beef cow inventory and a sharp fall in beef heifer retention, -5.8%. Last week's average live trade was $158. Last week's average dressed trade was $250. These are the best trades since May 2015. The all-time peak for cash cattle was 173.18 in 2014. The low after was 93.22 at one point in COVID 2020. We have recovered 81% of that big $80 decline.
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Possible light fund short covering yesterday
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