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“February cattle were close to unchanged at midsession, but reached a new low for the move late in Thursday’s trading session,” the Hightower Report said. “The market is being pressured by lower beef and cash cattle prices this week, in addition to fund long liquidation. Cash cattle saw active trade at $170-171 yesterday, which is about $7-$8 higher than the December futures.”
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Oliver Sloup at Blue Line Futures said, “The monthly Cattle on Feed Report showed on-feed supply at 11.6 million head as of May 1st, up 2% fro…
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