Key Reversal Lower in Live Cattle
MORNING LIVESTOCK OUTLOOK
August 2022 Live Cattle settled at $141.55. August Live Cattle gapped higher on the open and moved up to $145.00, but reversed and closed lower on the day and below Tuesday’s low, a key reversal. But since it went off the board Wednesday, it means very little except to traders that held positions to the last trading day.
The early marketing of calves continues for most areas of the U.S. additionally, the reduction and liquidation of the herds has continued with mature cow year to date harvest increasing 10 percent over the last two years.
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