Cattle Futures Pause on Signs of Slowing Demand

Cattle futures continue lower since the recent mid-month highs on signs of slowing beef demand.  Cattle futures are down .45c per pound as of this writing.

The USDA shows wholesale beef dropping their biggest amount since early this month to nearly $1.96 per pound just yesterday.  USDA also shows 5% less meat packaged than a week earlier, which is significant because grocers are reported to have finished their beef purchases for the upcoming Labor Day weekend.
           
The cattle business has slowed considerably as we head into the holiday weekend. Cattle (futures) prices are easier as the market is dealing with larger show-lists this week,” said Kevin Riordan, director of research at Capital Trading Group in Chicago, regarding the current cattle futures situation.

The trend for cattle futures remains up despite the temporary setback.  This cattle futures pull-back is a buying opportunity until the trend changes and heads south.

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