US Cattle Market Turns Higher as Feeders Rebound

The US cattle market has seen a turnaround in fortunes after weeks of decline. Following its recent peak at $40+, feeder futures have shown a four-day streak of higher closes, stabilizing at almost exactly where they found support since March around the $40-42 range.

This week saw fed cattle cash trade resurface at higher levels, reaching a high of $233 in Texas, Oklahoma, and Kansas. This is just what the market needed to affirm demand is returning.

August live cattle closed above its 200-day moving average for the first time since July 14th. However, some caution remains as a resurgence in corn prices could re-emerge as a headwind for the livestock complex if fund buying shifts to grains due to weather, demand, or geopolitical escalation.