The Dow Jones fell after topping the 29,000 mark Friday. However, some market analysts say a climbing stock market may mean more money in the cattle markets.
The indefinite closure of Tyson's Holcomb, Kan., facility creates the potential the cattle "marketing pace will slow down and carcass weights will increase."
The market is digesting the mid-year Cattle Inventory Report. The report released Friday shows the expansion of the nation's beef herd may be coming to an end.
As crop farmers debated the July World Agricultural Supply and Demands Estimates (WASDE) report, livestock producers anxiously watched for changes in the 2019 red meat and poultry production forecast.
Shares in meat companies like Tyson Foods Inc. and Pilgrim’s Pride Corp. have been rallying. Now a spike in corn and soybean prices is fueling the biggest selloff of the year.
