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Live and feeder cattle futures rose at the CME, supported by sharply higher cash trade and stronger cutout values. Southern live cattle deals were marked around $167, $4 above the prior week, and Northern dressed sales rose $5 to $6.
Feeder cattle auction prices also advanced at Mitchell, South Dakota.
Stronger cash and cutout values signal solid packer demand for fed cattle, supporting live and feeder cattle prices going into the spring.
brownfieldagnews.comMeghan GrebnerMar 31, 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.
Sharply higher cash trade (about $4 above the prior week) and stronger cutout values on March 31 give fundamental support for follow-through buying on the next trading day.
