Packers Buying Cattle for Shortened Schedule
Live cattle futures’ strength may be limited by expectations for weakness in the cash market. Live steers averaged $144.79 last week, down $2.34 from the previous week’s average and ending a run of three consecutive weekly gains.
Packers will be buying cattle for a shortened slaughter schedule next week and also have new contract supplies for September available Thursday, meaning demand for negotiated animals may remain limited.
