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Negotiated cash fed cattle traded steady to higher in late trade the prior week, with Southern Plains live sales at $116/cwt. Live Cattle futures fell an average of $1.47 and Feeder Cattle $2.65 on Monday despite firmer wholesale beef values.
USDA data showed September U.S. beef exports of 110,160 mt, up 6% year over year.
Lower futures despite firm cash and cutout suggest defensive positioning ahead of the election rather than a fundamental shift, while strong export demand supports beef values and packer demand for cattle.
cattlecurrent.comWLINov 6, 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.
