Just before the Memorial Day Weekend, the livestock markets got some homework in the form of the latest Cattle on Feed report. There was plenty of time for the markets to digest the neutral numbers, and today both live and feeder cattle climbed higher. Even though the numbers were neutral, AgMarket.Net hedging strategist Ross Baldwin said this is a bullish report.
Baldwin said that, while the cattle numbers have already been tight, we’re approaching the point where they are going to start to get tighter.
Baldwin added that that outlook has led to optimism across the cattle marketplace.
For more information, visit agmarket.net.
