Supply Overpowering Demand

Supply Overpowering Demand

Matt Rice
Matt Rice
This is Matt Rice with the Market Line Report for May 25th. As colder temperatures move into the northern territories, bbqing is taking its place on the back burner. Let's check in with Virginia McGathey as she explains why beef demand can't keep up with supply from the floor of the CME in Chicago.

McGathey "Today in the livestock market, it looks a little bleak right now, even though we have bounced off our lows. Starting with cattle, there has been some demand, but the supply just seem to increase just a little bit faster. It's been cold in the Northern US and that really has slowed down the grilling season and that has really affected our market somewhat. The feeder cattle, we haven't seen these kind of lows in months. Right now even though it has bounced off a little bit, lower prices have certainly accrued for lower prices and that has helped somewhat."

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