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Cattle markets lost the slight momentum they had built at the end of 2020 as live and feeder cattle contracts fell. The February live cattle contract dropped $2.72 to $112.30 while corn prices hit levels not seen in six years.
Cash cattle trade was thin, with 718 head sold at an average of $110.
Corn at multi-year highs raises feedlot cost of gain and pushes feeder buyers to lower their bids. This keeps feeder and live cattle prices under pressure.
Not enough comparable past events yet for a historical read.
Not 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.
