Feeder Cattle Lower in Light Trading
MORNING LIVESTOCK OUTLOOK
Live Cattle futures were lower Tuesday. Traders were disappointed that prices last week weren’t as high as expected and ended averaging close to a dollar lower for cash steers.
Feeder Cattle were lower on Tuesday as spec traders were bear spreading March feeders on out and with light volume trading, feeder cattle futures easily can become exaggerated.
Hams need to be watched. If hams move up, it is possible that Mexican buyers took advantage of the cheap hams and could come back strong into the US pork export market. If they remain low, it likely could be Mexico is buying less from the U.S.
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