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Barchart columnist Darin Newsom examines whether the recent sharp decline in December live cattle futures is seasonal. He concludes it is a contra-seasonal move, since the contract normally rallies from September through November.
He attributes the move more to fund selling than to a change in fundamentals.
A contra-seasonal selloff driven by fund liquidation can unwind quickly, so price volatility in live cattle may persist even though the underlying supply picture is tight. Buyers should expect choppy cattle values.
barchart.comDarin NewsomNov 17, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
