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Commentary argues that cattle traders who bought the fed cattle market expecting a bottom were caught out when August prices broke to new lows. Cash fed cattle traded around $110 in late August, below the July low of $114-115.
The author warns that calling the bottom is very difficult.
The commentary reflects a continued downtrend in fed cattle values, which pressures feeder and live cattle futures. It offers no new supply or demand driver beyond the price break already seen.
beefmagazine.comNevil SpeerSep 8, 2016Not 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.
