Live cattle futures closed Wednesday down 20 to 95 cents, with open interest rising by 262 contracts, suggesting a rotation of ownership. Cash trade has not yet begun this week and the Wednesday Fed Cattle Exchange online auction recorded no sales on 1,024 head. The price weakness combined with no cash activity points to short-term bearishness and limited liquidity in the physical market.
Live cattle futures closed Wednesday down 20 to 95 cents, with open interest rising by 262 contracts, suggesting a rotation of ownership. Cash trade has not yet begun this week and the Wednesday Fed Cattle Exchange online auction recorded no sales on 1,024 head. The price weakness combined with no cash activity points to short-term bearishness and limited liquidity in the physical market.
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mildly negative
Sentiment Score
-0.18
