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National feeder and stocker cattle receipts totaled 270,900 head, down from 315,100 the prior week. Steers and heifers sold $4-10 lower in the North and South Central regions and $2-4 lower in the Southeast, erasing the previous week's gains as producers pulled cattle from auctions amid COVID-19 worries.
Lower receipts and falling bids reflect producer reluctance to sell into a sharp market drop. Feeder cattle prices are under pressure as the market adjusts to weaker demand expectations.
capitalpress.comStaff ReportsFeb 28, 2020After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% over 20.
After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.
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.
