While cash fed cattle traded lower the past two weeks, traders anticipate a higher market toward spring as cattle numbers tighten seasonally and beef demand improves.
R-CALF USA will submit “formal objections” after last week’s ruling for summary judgement by a Montana magistrate judge in R-CALF’s lawsuit against 15 Qualified State Beef Councils.
There was some hesitation among buyers this week as the CME futures had a downward turn and sell-off early in the trading period. Steers and heifers sold lower at auctions.
A Montana magistrate judge granted summary judgement Wednesday to the government and the 15 qualified state beef councils targeted in the R-CALF vs. Sonny Perdue lawsuit.
Agricultural Marketing Service reporters said the market was most active on “lightweight cattle, in light flesh, as numbers of those cattle are not as plentiful as their heavier mates.”
