Heading into the weekend, cattlemen, market analysts, feedlots and everyone in-between tangoed over the thought, “would Friday’s placements being up a measly 1% have the power to derail the cattle market’s gusto and drive prices lower?”
One of the most important things to remember when analyzing the cattle market and its bullish and bearish interjections is that nothing can be looked at through a singular perspective. When analyzing Friday’s data, we cannot simply look at what the COF report has to share and decide what the market’s futures will hold. It’s vital to take into account the board’s technical position, the market’s fundamental backing and any seasonal trends that may be noteworthy.
Upon further absorbing the COF report and all of its content alongside where the cattle market sits, it’s safe to say that Friday’s COF report was disappointing. However, the market still begs to trade higher and the later it gets into the second quarter, the bolder the market’s aspirations for higher prices will most likely be. Friday’s placement increases of 1% didn’t end up devastating the market’s recent accomplishments, but it’s important to remember that all situations must be looked at individually as the market is constantly changing.
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ShayLe Stewart can be reached at firstname.lastname@example.org
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