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CME cattle futures closed lower as contracts followed weaker cash cattle prices, with June live cattle down $0.65 to $102.40 and August feeder cattle down $1.10 to $137.62. Cash cattle traded in a wide range of $112 to $118 live, and some of that business was expected to be for delayed delivery.
Cash cattle prices set the level that futures track, so weaker cash trade pushes down feeder and fed cattle values. Feeder buyers should expect lower prices if cash trade does not recover.
brownfieldagnews.comMeghan GrebnerMay 18, 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.
