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Cattle futures sold off sharply during the week while cattle feeders bid up inventory, pushing the feeder cattle index to a new high. Open interest rose as new longs entered near the top of the recent price range.
Analysts expected heavy volatility in early the following week ahead of the US election.
Rising open interest and a record feeder index show heavy positioning and firm feeder values, while election-linked volatility raises short-term price risk for buyers and hedgers.
ibestmedia.comNov 1, 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.
