“I don't care if it's cattle, I don't care if it's corn, I don't care if it's crude oil, I don't care what it is,” declares Senior Market Analyst Darin Newsom. “Markets are not tied to fundamentals at this point, which is what's going to make this situation in cattle that much more interesting.”
If you haven’t been following the industry chatter – either here at Barchart, or even in the mainstream media – “this situation in cattle” broadly refers to soaring prices against a backdrop of fairly brutal conditions for US producers: rising feed and processing costs; the specter of New World screwworm; adverse weather conditions; and now a geopolitical crisis that’s impacting fertilizer deliveries through the Strait of Hormuz.
