The livestock market saw significant movement today, with Live Cattle futures hitting limit down on concerns and rumors regarding the opening of the Mexican border, which triggered mass liquidation. This demonstrates the vulnerability of an overbought market. December Live Cattle futures were down $7.25 to $205.52, and traders are expecting expanded limits of $10.75 tomorrow. Feeder Cattle futures also suffered a similar fate, hitting limit down, with feedlots looking to move cattle more quickly. The market is back to prices seen on August 1st, with the January contract down $9.25 to $3.19.97. Expanded limits of $13.75 are expected for Feeder Cattle futures tomorrow. Lean Hog futures were firm as strong demand was countered by good supplies, making it difficult to find sustained support. Pork cutouts are back under the $100 mark. December Lean Hog futures were up $1.05 to $80.97.
Learn More: https://www.cmegroup.com/markets/agriculture.html
#livestock #cattle #futures
Learn More: https://www.cmegroup.com/markets/agriculture.html
#livestock #cattle #futures