Cattle Drops as Dow Drops
MORNING LIVESTOCK OUTLOOK
Live Cattle closed lower Thursday. The retail sales report showed sales fell 0.6%. Traders took the news as negative feeling consumers aren’t buying. A 900 point drop in the Dow may have caused cattle futures to drop.
Global export competition in 2023 will likely make it a rough road for the US. Increasing hogs in China and global trade agreements with EU such as Portugal and Spain and Brazil will make it hard for US exports to work into China and other Asian countries. Also, Mexico increasing exports from Brazil could and mostly likely cut into US exports.
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