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Cattle futures recovered after a three-week slump that followed the Silicon Valley Bank collapse, with the March 27 trade reviving bullish sentiment. Cash cattle had been rising $2 to $3 weekly before the sell-off.
Boxed beef prices were starting to bottom seasonally and supporting feedlot pricing.
Thin supplies of market-ready cattle and firmer boxed beef give feedlots leverage to push cash prices higher, supporting live and feeder cattle futures.
dtnpf.comShayLe StewartApr 3, 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.
It describes a rebound in sentiment after the bank-turmoil slump, with cash cattle trending higher and boxed beef bottoming, which supports further buying on April 3.
