I remain guardedly bullish in my outlook for the cattle complex through the remainder of 2024. To be truthful, I think this year may be one of the hardest to predict as the market s bearish and bullish influences are both extremely boisterous.
Wednesday afternoon s Cattle Inventory report and the cold storms endured through January will both affect the market moving forward and should not be overlooked.
There are a few supportive factors helping keep the feeder cattle complex strong. But, more than anything, the lack of supply in this year s marketplace amid tremendous beef demand has taken the market by storm.
Given how thinly traded the cash cattle market is, packers play on market starters to set the week s tone and secure the prices that they want to pay for cattle for the week.