DTN Closing Livestock Comment 12/06 16:09
6 Dec 2023
DTN Closing Livestock Comment 12/06 16:09 Sharp Cattle Losses Develop Wednesday Market bearishness continues to be seen through the cattle complex, once again breaking through recent support levels and testing if not setting contract lows. The continued pressure in both fundamental and technical factors across the cattle complex is limiting any sense of support. Rick Kment DTN Analyst GENERAL COMMENTS: Despite the attempt to hold prices to a generally neutral position through the first half of the trading day Wednesday, aggressive and sharp losses flooded into all cattle contracts. Live cattle and feeder cattle futures posted losses of $5 per cwt or greater in nearby contract months, causing concern that additional weakness may continue to develop through the rest of the week.