DTN Closing Livestock Comment 11/16 16:02
16 Nov 2023
DTN Closing Livestock Comment 11/16 16:02 Cattle Future Fall Lower Thursday Sharp losses flooded into cattle futures as traders backed away from early week gains and focused on the upcoming Cattle on Feed report. This led to aggressive triple-digit losses in most contracts, adding uncertainty of end of the week market shifts. Rick Kment DTN Analyst GENERAL COMMENTS: Sharp losses developed Thursday morning across the livestock futures trade. Even though buyer interest was quick to develop during the first three days of the week, these buy orders eroded, leaving way for a significant price gap that is creating end-of-the-week uncertainty. The upcoming Cattle on Feed report, which will be released Friday, is a dark cloud hovering over the market as traders try to prepare for report results as much as possible without over correcting positions.