Coming into this week, “there is no technical sign of a low” in cattle, The Hightower report said. “If there is a sense that the industry can deal with the plant fire issue without building a massive supply of market-ready cattle, cattle futures look undervalued.”
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Moved cows this morning with the Boss Man at the Home Place. It’s usually not a big deal as we rotate pastures regularly, so the pairs are used to being juggled from place to place. It was a beautiful cool beginning to the day — one of those that starts getting a person excited about Husker Football and warm drinks. Then I saw it …
“The (cattle) market gapped down the limit today and stayed limit down into the close,” the Hightower Report said. “A weekend fire at a Tyson slaughter plant has shut the slaughter plant down indefinitely and while the plant will be rebuilt, this was seen as a key bearish force. The news sparked selling as less demand for live inventory is seen as a bearish force.”
Cattle producers have been struggling to find prices that work for them, says University of Tennessee Extension ag economist Andrew Griffith.