July 29, 2005
Thursday markets close higher, despite BSE news
"Ho-hum" is the way cattle markets greeted Wednesday afternoon's news that the U.S. may have another case of BSE. Live cattle futures Thursday finished higher than they have in weeks.
By day's end, August CME live cattle futures rallied 22 points, to 79.57 cents/pound. October was up 67 points, to 82.05 cents/pound, and August feeder cattle futures gained 45 points, to 107.57 cents. That's the highest October close since July 13, and the highest August close since July 7.
Bryan Doherty, senior market advisor for Stewart Peterson Group, Inc., said, "I get the feeling that traders care more than the public. The public is growing tired of hearing about these issues which, in the long run, seem to have no or little impact on consumer safety or demand. In fact, contrary opinion would suggest that meat is safer than ever to eat, and that the system's working."I contribute alot of this consumer confidence to R CALF,for their fact finding,straight shooting style of reporting.
Thursday markets close higher, despite BSE news
"Ho-hum" is the way cattle markets greeted Wednesday afternoon's news that the U.S. may have another case of BSE. Live cattle futures Thursday finished higher than they have in weeks.
By day's end, August CME live cattle futures rallied 22 points, to 79.57 cents/pound. October was up 67 points, to 82.05 cents/pound, and August feeder cattle futures gained 45 points, to 107.57 cents. That's the highest October close since July 13, and the highest August close since July 7.
Bryan Doherty, senior market advisor for Stewart Peterson Group, Inc., said, "I get the feeling that traders care more than the public. The public is growing tired of hearing about these issues which, in the long run, seem to have no or little impact on consumer safety or demand. In fact, contrary opinion would suggest that meat is safer than ever to eat, and that the system's working."I contribute alot of this consumer confidence to R CALF,for their fact finding,straight shooting style of reporting.