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Cattle markets held sideways to stronger in the week ending May 4, 2018, with packers buying fed cattle strongly. Negotiated cash fed cattle in the Southern Plains rose $2 to $126/cwt on Thursday, while June Live Cattle futures closed about 75 cents lower week to week.
Feeder cattle auction volume reached about 250,000 head, the second-highest since early February.
Strong packer demand supports cash fed cattle prices, but heavy feeder and calf receipts and a negative June basis signal that futures are pricing in softer supplies ahead. Feedlots and feeder buyers face mixed price signals.
cattlecurrent.comWLIMay 4, 2018Not 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.
