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Cash Cattle Prices Likely Steady



For the coming week, cash cattle prices are likely to be steady to possibly weaker. Of course if boxed beef has a surge to the upside, that’s another story but boxed beef has been going down and could continue to drop as consumers are shying away from the expensive cuts.  This week will also be a lighter slaughter. Packers will be killing on Friday, Good Friday, but as usually is the case on Easter weekend, there will be fewer people showing up.  Saturday, slaughter should be very light.

black and brown cattle

Lean hog futures were higher Monday on light trade volume indicating  traders are liquidating.  The oversold condition has now changed. Thursday, March 23rd, the RSI was 19.45% for June 2023 Lean Hogs. Monday March 27th it was 40.17%.  Trade volume this week is likely to be light. Funds are reallocating and will wait until April to balance accounts and make changes to any that have baskets and fundamental traders will wait to establish positions after the Hogs and Pigs report on March 30th.

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