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Live and feeder cattle closed sharply lower on Thursday October 19 ahead of Friday's On Feed report, after a very bearish Export Sales report. December lives fell $1.90 to $185.30 and November feeders fell $5.22 to $244.50.
Sharp cattle futures declines ahead of the USDA report lower the value of feeder animals and signal reduced near-term feed-buying expectations.
brownfieldagnews.comMeghan GrebnerOct 19, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
Futures were already falling on Oct 19 after a very bearish Export Sales report, adding to downside momentum going into the On Feed report.
