Cattle started strong out of the gate and continued to push higher this week posting gains in 3 out of the four sessions for the week ending Thursday. Early strength came from Friday’s friendly COF report. Additional support came from concerns that supplies are only going to continue to tighten up especially if the 25% tariffs are applied to Mexico and Canada. Reports of two more cases of the new world screw worm added to the support.
Cattle opened the week posting solid gains with most of the early support coming from Friday’s friendly COF report. Tariff concerns supported cattle as tariffs will be applied on goods coming in from Mexico and Canada on March 4 if progress isn’t made on border security and drug trafficking.
Buyers continued to push the live cattle market on Tuesday, but most of the strength was in the feeder cattle due to tight supply concerns. Live cattle traded with small gains due to expectations of lower cash activity this week. If the tariffs go into effect on March 4, it will increase the cost of cattle crossing the border from Mexico. That could result in fewer calves crossing, which will only tighten up the feeder cattle supply. Boxed beef prices were higher today.
Profit taking and technical selling pressured the cattle markets midweek. Live cattle fell lower for the first part of the session, tried to come back but faded again and closed with losses. Feeder cattle ended the session mixed with small gains in the front month March contract and small losses in the deferred contracts. Slow cash trade pressured cattle. Boxed beef prices were mixed.
Cattle opened the session steady to firm, backed off slightly, but then rallied to post solid gains. Tight supplies, strong demand, and cashes premium to futures all helped to give cattle support. Light support was also due to tariff talk, which might slow down the importation of Mexican cattle. Last week’s beef export sales pace was estimated at 18,225 MT.
For the week, Feb live cattle went off the board at $197.725 down 10 cents, while April live cattle were at $192.65 down $1.30. March feeder cattle were at $274.975 up $7.05.
For the month, Feb live cattle were down $6.875, while April live cattle were down $9.65. March feeder cattle were down 75 cents.
Cattle Weekly Comments February 28
Cattle Weekly Comments February 28
Cattle started strong out of the gate and continued to push higher this week posting gains in 3 out of the four sessions for the week ending Thursday. Early strength came from Friday’s friendly COF report. Additional support came from concerns that supplies are only going to continue to tighten up especially if the 25% tariffs are applied to Mexico and Canada. Reports of two more cases of the new world screw worm added to the support.
Cattle opened the week posting solid gains with most of the early support coming from Friday’s friendly COF report. Tariff concerns supported cattle as tariffs will be applied on goods coming in from Mexico and Canada on March 4 if progress isn’t made on border security and drug trafficking.
Buyers continued to push the live cattle market on Tuesday, but most of the strength was in the feeder cattle due to tight supply concerns. Live cattle traded with small gains due to expectations of lower cash activity this week. If the tariffs go into effect on March 4, it will increase the cost of cattle crossing the border from Mexico. That could result in fewer calves crossing, which will only tighten up the feeder cattle supply. Boxed beef prices were higher today.
Profit taking and technical selling pressured the cattle markets midweek. Live cattle fell lower for the first part of the session, tried to come back but faded again and closed with losses. Feeder cattle ended the session mixed with small gains in the front month March contract and small losses in the deferred contracts. Slow cash trade pressured cattle. Boxed beef prices were mixed.
Cattle opened the session steady to firm, backed off slightly, but then rallied to post solid gains. Tight supplies, strong demand, and cashes premium to futures all helped to give cattle support. Light support was also due to tariff talk, which might slow down the importation of Mexican cattle. Last week’s beef export sales pace was estimated at 18,225 MT.
For the week, Feb live cattle went off the board at $197.725 down 10 cents, while April live cattle were at $192.65 down $1.30. March feeder cattle were at $274.975 up $7.05.
For the month, Feb live cattle were down $6.875, while April live cattle were down $9.65. March feeder cattle were down 75 cents.