DTN Closing Livestock Comment 12/04 15:58
4 Dec 2023
DTN Closing Livestock Comment 12/04 15:58 Cattle Market Weakness Continues Renewed pressure developed Monday morning in all cattle trade. The combined weakness of last week's futures price tumble, weaker cash values and eroding beef prices has traders concerned of further liquidation. Rick Kment DTN Analyst GENERAL COMMENTS: Cattle futures were the center of attention Monday with active losses seen in all contract months. Feeder cattle futures set the weaker tone of the market with sharp triple-digit losses developing early, but continuing to show weakness through the entire session. Monday's moves broke through last week's support price levels, causing markets to move to new multi-month lows for the last two Monday's in a row. The inability to hold support levels in live cattle and feeder cattle trade is adding to the already weak market structure and sparking technical pressure.