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Fed cattle traded $3 to $4 higher than the prior week, with the five-area weighted average reaching $172.33 live and $278.10 dressed. The live average set a new record, surpassing the November 2014 high of $171.38.
The Choice boxed beef cutout also rose to $289.76.
Record fed cattle prices and a rising beef cutout signal strong packer demand and tight cattle supplies, which keeps feeder cattle and feed demand supported. Resistance near current levels could limit further upside.
u.osu.eduSmith atApr 12, 2023Not 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.
Fed cattle $3-4 higher with a record $172.33 live average and a higher Choice cutout confirm strong cash and demand support.
