Cattle Futures Setting Contract Highs As Beef Month Starts

Cattle futures are starting the month of May, setting contract highs. May is beef month, as if the beef trade needed any more reason to work higher.

Certainly tight numbers showing up in the recent coal storage report. Beef supplies in storage the lowest in 12 years. That total red meat in storage is down 2% from a year ago.

June live cattle set new contract highs at mid-week. August right behind. August pushing that 250 level.

Audio Reporting by Mark Oppold for Southeast AgNet.