Cattle futures get a bounce

After what seems like weeks, CME cattle futures are green today, getting a technical bounce. There’s no ‘reason’ other than the market is very oversold. Bearish perceptions about April, May, June persist the same as the market’s dismissal of positive, immediate fundamentals. The only question really being discussed anymore is just how big of a wreck is coming next quarter. Increases in production into the second quarter are the norm for this industry. This year’s increase, despite some forecasts, falls into the ‘normal’ category historically. Other years exceeded it greatly, like 2006. –TheBeef Read more