Prices Stumble, but Still on Their Feet
US - Cattle prices have stumbled recently in the uncertain stock market, but experts say the trend should stabilize.
13 October 2008
1 minute read
Dale Moore is a local cattle producer and owner-operator of Cattleman's Choice Feedlot.
"Well, my crystal ball broke a long time ago, but I think that the current cattle prices are definitely linked to the economy but not because of cattle," Moore told Tulsa World.
According to the news agency, Moore said he believes the current stock market trend has trickled into the commodities market, such as cattle and wheat, partially because there are some traders in both the stock market and the commodity market and some of those same people are selling everything.
"I think what we are seeing is an overall panic in the fund market and there is a lot of panicked selling with no paper on the other side to buy it."
The futures on cattle are trading according with the Dow, Moore said. "This is not a supply and demand issue, it is a total economic issue."
TheCattleSite News Desk
