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National feeder and stocker cattle receipts totaled 315,700 head, well above last week and last year. Steers sold $1 to $4 higher and heifers $2 to $6 higher on good to very good demand.
The report also noted a severe drought band across the central US and spring storm damage in the Plains and Midwest.
Higher feeder cattle auction prices with strong demand support feeder futures, while heavy receipts and drought-driven herd pressure shape near-term supply.
capitalpress.comStaff ReportsApr 3, 2023After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% 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.
