Cattle Futures Plummet, Tyson Plant Closures Loom

Live cattle futures plummeted on Monday, with most contracts hitting their daily limit and setting the stage for potential further price drops. Tyson Foods plant closures and shifts added to market uncertainty. The monthly Cattle on Feed report showed decreased placements and marketings, while the number of cattle on feed as of November first was down slightly from last year. Lower wholesale boxed beef prices and increased slaughter also contributed to market volatility.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.