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Federal-State market news reported 245,800 feeder and stocker cattle receipts for the week, down from 286,400 a week earlier. Steers and heifers sold $3 to $6 lower on moderate to good demand, and a break in cattle futures led feeders to lower breakeven prices.
Lower futures and heavier calf supply push feeder cattle prices down, and weaker cattle values reduce feeder cattle demand for feed.
capitalpress.comStaff ReportsOct 2, 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.
Weekly national feeder report dated Oct 2 showed steers and heifers $3-6 lower and a futures break lowering buyer breakevens, directly confirming feeder weakness on the move date.
