Bears Starting to BBQ

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Cattle ended last week strong, with modest gains in Friday’s session. Both futures and cash markets were up, with the most popular contract, August, ending 0.425 cent per lb higher at 112.225 cents. October also finished up 0.100 cent to 112.325 cents. This week, however, we are expecting the cash prices to face challenges ahead. In the coming weeks more animals are planned to come to markets with weather also weighing in to hurt demand. The super hot summer will have us reaching for the grills and BBQs (great for the market), but will also mean that caring for the cattle and sustaining weights is more difficult for the producer, which in turn eats into profit margins. Going forward, expect the bears to win out in the markets, with cash prices tending to trade sideways or down, in light of the warm weather and limited demand. These next trades may last for a while. At the moment, our programs are showing August 2nd as the next trading day. That can change and we will keep you updated between now and then… but that is the current outlook.

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