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After a rally, cattle prices face a turning point.
Markets look to trade talks next week.
Traders have been impressed with packer interest for fat cattle for now three weeks.
The fact is, today’s confirmed sale to China combined with the 1.1-mmt sale announced earlier in the week is not near the hyped 5 to 10 mmt that the trade has been talking about.
Weather is viewed bearish, as it is giving producers an opportunity to catch up on harvest.
Even with China’s swine fever disease, Allendale Inc. does not expect the U.S. to send any pork to China with the heavy tariff issues.