Cattle Futures Fall with Slow Export Outlook

There is now the outlook of domestic beef exports waning in demand.  Cattle futures have resumed their downward slide reportedly on this view.

The USDA recently revealed wholesale beef sank to a three-week low to about $2.05 per pound – that’s down almost 3% since the third week in May.  Last month the USDA estimated beef exports might drop as much as 2% this year.    

Barb Levy, chief director for Futures & Options Xecution’s futures division in Chicago, had this to say regarding the current cattle futures situation, “…cash beef prices have declined in the last 9 out of 10 days.  Weaker export demand, a continued sluggish economy and colder spring weather leading to lighter domestic demand, have all added pressure to the cattle (futures) market.”

The trend in cattle futures remains down and weak, with no bottom yet clearly in sight.  We are short August Feeder Cattle futures.

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