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Cattle futures closed higher as contracts recovered from three days of sharp losses, with June live cattle up $1.22 to $103.50 and August feeder cattle up $2.00 to $138.72. Cash cattle trade was limited and prices had fallen, with some sales reported at $112 to $114 live.
The bounce came from oversold conditions and short covering rather than new supply or demand news, so the price recovery may be limited while cash trade remains weak. Feeder cattle costs are likely to stay volatile in the near term.
brownfieldagnews.comMeghan GrebnerMay 17, 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.
