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October live cattle closed $2.07 lower at $175.17 and December live cattle closed $2.02 lower at $174.70 on the CME, while October feeder cattle closed $3.62 lower at $230.95. Direct cash trade in the South was marked at $181, about $2 below the prior week's weighted average, and Northern dressed business was $288.
Lower cash and futures prices for cattle signal softer demand for feed-fed animals and reduce the value of feeder placements, which can weigh on feed ingredient demand at the margin.
brownfieldagnews.comMeghan GrebnerSep 6, 2024Not 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.
Sept 6 close showed October live cattle down $2.07 and lower cash trade about $2 below the prior week, directly driving the 5-day decline.
