After a sustained run of lofty prices, we have seen a substantial selloff in the cattle complex in recent weeks. Commodity broker Eric Relph of Commstock Investments says that we have seen multiple limit down moves in recent trading days.
Relph says traders are now concerned about the potential of the U.S.-Mexico border reopening which would bring an influx of feeder cattle into the United States.
He adds that many in the industry are pointing to a potential border reopening around the month of January, when colder weather would begin to eradicate New World Screwworm flies.
To get in touch with the team at Commstock Investments visit www.commstock.com/
