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Negotiated cash fed cattle trade was largely undeveloped through late Friday, though chatter suggested packers needed inventory. Live Cattle futures closed mixed and Feeder Cattle fell an average of 46 cents on rising corn prices.
Choice boxed beef was 5 cents lower at $218.50/cwt and Select was $2.78 lower at $201.47.
Rising corn costs pressured feeder cattle, and softer Select beef values reduce demand for cattle at the margin.
cattlecurrent.comWLINov 3, 2018Not enough comparable past events yet for a historical read.
Not 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.
