Heading into the start of summer grilling season cattle markets appear to be on the same trendline as 2018.
John Payne, senior broker of Daniels Trading and author This Week in Grain, says “the market has essentially done what it did last year” with a rally in April and June contracts falling.
There is some optimism that the market could comeback, but it is a supply issue with more cattle on feed and marketings down.
“At this point, again I think we probably stay sideways,” Payne says of the cattle market.
For what Payne is seeing going forward for the feeder cattle market and potential hog market impacts watch the video above from AgDay.