Daily Livestock Commentary

Watch us on RFD-TV, today at 9:45 am CT! Live Cattle (October)

October live cattle fell sharply to start last week’s trade but managed to recover those loses and then some in the following four sessions. Friday’s close was the highest price since the beginning of March, when the Covid fears started to pick up steam. August futures will be in delivery at this time next week and with futures at a premium, we could see the rally stall out a bit. The bulk of the sales in the south last week came in from 97.00-97.50. We have been a little off-sides on this move higher with conflicting technicals and fundamentals. Friday’s Commitment of Traders report showed funds net long 33,622 contracts.