Cattle Futures Extend Lows on Bleek Demand Outlook

There seems to be an outlook for a cooler summer this year because this speculation has hit the cattle futures market and extended the current losses.  Further speculation for lower cattle futures is that the cooler will lower the prospects for grilling outdoors.

It’s no secret warmer weather promotes outdoor grilling, but colder weather is expected to continue though out the month across the Midwest to the east coast.  According to a respected weather service, they are expecting temperatures to cool anywhere between 8 to 14 degrees below normal.

Kevin Craney, a senior commodities broker for RJO Futures in Chicago, had this to say regarding the current cattle futures situation, “As winter temperatures continue to linger into spring demand for beef is being curtailed. Cattle (futures) have been in a downward trend, and this lack of demand will continue to fuel that trend.”

The trend for cattle futures is down is nothing but DOWN with new lows reach just today.  These new lows in cattle futures implies “no bottom” yet in sight, but before hopping on board I will require a pull-back higher in cattle prices.


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