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As the week ends, bears have the technical market momentum as live cattle futures prices fade, says Julianne Johnson, ProFarmer Senior Market Analyst.
Unemployment and other factors are impacting the cattle futures market this week. But beef movement remains strong coming off theMemorial Day holiday, although Choice beef values decline but remain still historically strong
The cattle futures market has corrected itself with a slight downturn. That correction is temporary say market analysts, and it shouldn’t dissuade cattle feeding investments.
April exports of U.S. beef and pork were lower than a year ago while U.S. lamb exports continued their upward trend, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
U.S. pork exports had an impressive month in April, and the news was even better for U.S. beef.