DTN Closing Livestock Comment 12/06 16:09
Sharp Cattle Losses Develop Wednesday
Market bearishness continues to be seen through the cattle complex, once
again breaking through recent support levels and testing if not setting
contract lows. The continued pressure in both fundamental and technical factors
across the cattle complex is limiting any sense of support.
Despite the attempt to hold prices to a generally neutral position through
the first half of the trading day Wednesday, aggressive and sharp losses
flooded into all cattle contracts. Live cattle and feeder cattle futures posted
losses of $5 per cwt or greater in nearby contract months, causing concern that
additional weakness may continue to develop through the rest of the week.
No other Daily email offers as much useful Ag information as DTN Snapshot – Sign up