
The past week has seen the livestock futures landscape littered with the carcasses of bearish cattle and hog traders. Early April saw live cattle (LEM25), feeder cattle (GFK25), and lean hog (HEM25) futures markets’ prices careen sharply lower. At the time, this suggested that the mature bull runs in all three markets, which saw live and feeder cattle futures hit record highs, had finally fizzled out. However, the livestock market bears should have known that if hogs and cattle markets have shown one similar characteristic over the past several months, it’s resilience.
Since their early April lows, live cattle, feeder cattle, and lean hog futures prices have come screaming back. Cattle markets are set to challenge their record highs as soon as this week.