Cattle Market Update: Futures Drop, Exports Rise

Cattle futures stumble! Live cattle futures plunged, with October contracts plummeting $3.67. Cash sales held in the South but dipped in the North. Despite futures dips, the CME Feeder Cattle Index rose. Export sales hit a six-week high, led by Japan and South Korea. Managed money traders boosted net long positions, while speculative funds trimmed theirs. Boxed beef prices slid, and cattle slaughter numbers saw a significant drop. Hosted on Acast. See acast.com/privacy for more information.