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CME live and feeder cattle closed higher ahead of direct cash business, with December live cattle up $0.97 at $135.40. Direct trade was $135-136 live in the South and $213-214 dressed in the North.
Boxed beef Choice closed $0.61 lower at $278.64 on light demand.
Firm cash cattle prices and feeder futures gains support cattle values, while softer boxed beef demand limits packer margins and could cap further gains.
brownfieldagnews.comMeghan GrebnerNov 23, 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 23 futures closed higher ahead of direct cash trade (Dec +$0.97), a contributing step in the rally despite weaker boxed beef.
