Bear finally retreats, cattle sustain rally

Signs in recent days suggest the summer lows are finally in – more than a month into autumn. CME cattle futures traded higher for three consecutive days and trended higher for a fourth, but profit taking in the last hour on Tuesday caused most contracts to settle modestly lower. But the mood in cattle country is decidedly different this week. Last week’s 5-area weekly weighted cattle price was $99.24, about $1 higher than the 6-year lows established the prior week. The rally in the futures markets, coupled with ideas packers will need more cattle this week, have feedyards pricing their show lists at $105. Read more at Drovers CattleNetwork…