Through the spring of 2018, we have talked about several common themes for the cattle markets that impact the fundamentals of this market. Even though Live Cattle futures finished up over $2 on Friday, the trade has been quite choppy, which gives traders little confidence that we are headed higher from here.
Here is a snapshot of the August Live Cattle contract over the last 30 days, 90 days and year.
It’s not all about the futures though, as cash was lower again this week in Alberta, and was expected to be lower in the U.S. as well. The Alberta cash price fell to $141.50 this week, which is a continued drop from the May 1st cash price of $164
Cow slaughter has been inflated 12% year to date by a tough calving season but also less cows heading state side.
Hear Shaun Haney and Anne Wasko discuss all of these factors and more in this week’s Beef Market Update: