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Live cattle futures rose on Monday, with the December contract up 90 cents to $134.42 and February up $1.27 to $138.97. Cash trade and boxed beef prices also firmed, with the Choice cutout up 84 cents to $279.25, and feeder cattle futures rallied.
Higher boxed beef values and firm cash trade indicate strong packer demand for fed cattle, which supports feeder cattle prices and the value of cattle relative to feed costs.
wlj.netAnna Miller FortozoNov 22, 2021Not 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.
Nov 22 futures gains (Dec +90 cents, Feb +$1.27) with firmer cash and cutout show the start of the window's upward move.
