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DTN reports fat cattle traded sharply higher the prior week, with South trade up $3 to $4 and North up $4.50 to $9.50. Feeder cattle gained $1 to $6 as the complex followed live cattle.
Analyst ShayLe Stewart says packers are pulling cattle forward and second-half supplies look thinner.
Short market-ready supplies and steady consumer demand keep cattle prices elevated, which lifts feeder costs for buyers heading into the second half of the year.
dtnpf.comShayLe StewartApr 10, 2023Not enough comparable past events yet for a historical read.
Not 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.
DTN notes sharply higher fat cattle trade, bull spreading, packers pulling cattle forward and thinner second-half supplies, which supports futures momentum.
