Ground Beef: Live Cattle Futures Have Dropped

Ground Beef: Live cattle futures have dropped over $10 in the last two months, as the continuing export ban of US beef to Japan and South Korea keeps the market weak. This week starts the 5-day "Goldman roll" period, when commodity index funds move their long positions out of the lead month contract to the next active month. This has led to extremely active spread trading in the Apr/Jun spread, with an estimated 8000 spreads trading in yesterday's session. Read More....