Pork supplies are expected to dwindle over the summer months. This should help keep support under the market.
Less selling of soybeans in South America, more soybean acres in the U.S., creates May fireworks scenario.
On Monday, weather and fund activity should be weighed equally to determine direction for the week.
A top in this market is likely due anytime now, this marketing firm believes.
For cattle, the higher supplies remain above demand.
Perhaps the bigger U.S. stock estimates are already built into the market, but if not more pressure could be seen next week.
At a minimum, this firm is bearish through the end of August.
A bullish surprise, a bearish stocks number, and a market that will turn to the weather next week.
According to market analyst Rich Nelson, the current rally in the cattle markets is a gift horse for those who still need to hedge cattle for the remainder of the year.
With both the world as well as the U.S. balance sheets expected to grow over the coming months, it will be hard for soybean rallies to be sustained without a major weather issue.