Cattle markets rallied again the first full week of August with both fed cattle and feeders reported at $3 per cwt. higher.
U.S. lean hog futures surged about 4 percent on Tuesday, boosted by chart-based buying and stronger demand from pork packers, traders and analysts said.
Report came in mostly as expected.
Meaningful change isn’t accomplished overnight. More often, it happens slowly by chipping away piece by piece until something new suddenly takes shape.
Cattle prices rebounded this past week after a long slide downward.
On Feed seen well below year-ago levels.
No herd should have any cull cows or bulls.
Fewer cattle are on feed than what was projected, but domestic beef demand is up.