DTN Closing Livestock Comment 12/07 15:52
7 Dec 2023
DTN Closing Livestock Comment 12/07 15:52 Livestock Markets Post Additional Losses Despite the ability for cattle futures to trade higher through most of the trading day, continued market weakness eroded any sense of support and pushed prices lower in all but front-month Feeder cattle contracts. The bearish overall moves across the cattle markets has continued to dash any sense of long-lasting buyer support. Rick Kment DTN Analyst GENERAL COMMENTS: To describe the recent moves in the cattle market as frustrating and discouraging is a gross understatement as even any sense of buyer support seems to be short lived and has led to consecutive days of contract lows in most contract months. Early gains in both live cattle and feeder cattle trade seemed to help bring a sense of stability to the market, but buyer interest quickly dried up in late day trade, leading to firm losses in most nearby contract months.