Cash is King but Futures are Tired

Cattle trade remains in a holding pattern as the market waits for more widespread cash activity, following some light movement in the South earlier this week. On this week’s Cattle Chatter, Brad Kooima with Kooima Kooima Varilek breaks down the regional dynamics at play. The June WASDE report offered little in terms of market-moving news for livestock, keeping reactions muted. Meanwhile, earlier ICE raids have raised concerns, with some processing facilities reportedly impacted by labor disruptions. While cash remains strong, there’s a noticeable fatigue in the back-month futures, suggesting a market in search of fresh direction.