The livestock markets end the week mixed with cattle lower and hogs higher. Livestock Market Analyst Kyle Bumsted joins the conversation and gives an overview of how the trade made it through the week. For cattle a key concept continues to be a negative basis from the futures to the cash market. For the futures to be able to move with the bullish momentum it has felt is to get the cash to move higher. Bumsted highlights what continues to occur in the country for cash to stay at $114 live.
Apart from the fed cattle trade Bumsted also looks at the margin that may be in the current cash feeder cattle market. Despite trading at premium prices, there are enough options for light cattle that ranchers can likely find a profitable avenue for the cattle. Bumsted also notes that replacement quality heifers are bringing good money ahead of the grass season. This could highlight an attempt for some ranchers to build back their breeding herds.
Catch the full conversation with Kyle here:
