DTN Early Word Livestock Comments 04/22 06:20
Markets Seem to be Bearishly Optimistic
Cattle futures are not expected to show much upside potential prior to the
Cattle on Feed report. Even if some numbers would be friendly to the market,
the overriding influence will be increasing grain prices due to an uncertain
growing season. Packers remain aggressive and fearful of tightening supplies,
but prices cannot move higher indefinitely without impacting demand.
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