Cattle supplies are on the rise with more cattle being placed in feedlots leading to some discrepancies in the futures and cash market. Naomi Blohm from Stewart-Peterson says in the short-term prices look like they will be sideways and could work higher.
Blohm sat down with AgDay to discuss current cattle market trends.
I think the traders and the spec-traders are waiting to see if the cash market can stay at the levels it’s at to confirm that the demand is as strong as what we’re thinking it is,” Blohm says. “The cash market that we’re hearing is strong, it’s definitely higher and the futures price needs to come up.”
Listen to more of Blohm’s thoughts in the video above from AgDay.
