Credit: Shutterstock photoWith more deliveries and a move down in beef prices to an 11-day low, the market looks vulnerable to a continued set-back with October trading at a stiff premium to last week's cash. There were 10 new deliveries and 25 retenders posted late Friday, which might help pressure today. Outside markets carry a positive tilt.
October cattle closed moderately lower on the session Friday but managed to stay inside of Thursday's range. New deliveries, lower than expected cash cattle trade last week and fears that production could come in above trade expectations in the weeks ahead, if there is extra cow and non-fed cattle slaughter, helped to pressure.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
