The Beef: Sideways and seasonal

According to a livestock market report by The Beef and Cassandra Fish, CME cattle futures pulled back early Monday, as global trade jitters motivate long liquidation in multiple commodities. There are some technical sell signals surfacing too, on the heels of the most recent 2-week rally that took the market to a modestly overbought bought position. Though the discount to cash will likely to provide some underlying support along with the calendar, now that the largest market-ready supplies have finally arrived. Impressively, futures have clawed back to higher on the day, in spite of all the noise. –The Beef Read more…