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Negotiated cash fed cattle sold at $105 to $109 live, averaging $106.50, with dressed prices down about $5. Live cattle futures recovered only slightly after steep declines in late August that followed the Tyson plant fire.
Hedged producers selling into weak cash prices limit any rebound, and the futures curve implies lower October cash prices, which points to continued bearish pressure on cattle values.
wlj.netKerry Halladay, WLJ Managing EditorAug 30, 2019After 29 past bearish logistics events, Live Cattle moved a median -0.3% over 5 sessions (38% higher; middle half -2.0% to +0.5%), and -3.7% over 20.
After 20 past bearish logistics events, Feeder Cattle moved a median +1.3% over 5 sessions (60% higher; middle half -0.7% to +2.0%), and +2.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
