A labor lockout at the Cargill beef processing facility in Fort Morgan, Colorado weighed heavily on the cattle market, adding pressure to futures trade. Reports indicate roughly 2,000 workers were locked out after contract negotiations stalled, with the plant capable of processing more than 4,000 head per day.
An unusual market dynamic also surfaced, with feeder cattle trading stronger than live cattle—something not commonly seen in the trade. Meanwhile, headlines are once again expected to steer market direction as traders watch for further developments tied to ongoing negotiations with China.
Geopolitical tensions involving the U.S. and Iran also remain firmly on the market radar, adding another layer of uncertainty heading into the next round of trade.
Wednesday Market Wrap Up with Mike Castle at StoneX
