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Rabobank's Don Close said the cattle market may have already reached its seasonal peak for the year, with the beef cow herd and total on-feed numbers still growing. He expects feeder cattle could still rally into the August to September summer high, though possibly weaker than normal.
He flagged potential dairy cow liquidation as the key risk if milk prices fall.
A growing cow herd and on-feed numbers point to ample beef supply, which caps live cattle prices. Possible dairy cow culls could add to supply later in the year and affect feed demand.
tscra.orgWritten by: kristinApr 2, 2019Not 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.
