Cattle Strong Despite Bird Flu

Futures Market Upward Trend: There has been a positive trend in live cattle futures contracts, with increases ranging from 25 cents to $1.05 across front months. Feeder cattle futures also show gains, ranging from $1.30 to $2 stronger.

Cash Market Stalemate: Reports suggest a disconnect between futures and cash markets. Packers may be bidding lower for cattle, while feeders are holding firm for higher asking prices.

Looking Ahead:

Potential Cash Market Movement: The cash market may move today as packers and feeders reach pricing agreements. If futures prices remain stable or increase, feeders might be more willing to sell at better prices. Packers, needing to maintain slaughter rates, might offer some concessions.

Futures Market Fluctuations: The positive trend in futures contracts might hold, but there could be fluctuations, especially in the context of the continued spreading of Bird Flu around the nation’s cattle herds and increased transport restrictions as a response.