
August live cattle futures fell $3.475 to $223.20 on Wednesday, a nearly five-month low, and August feeder cattle dropped to $341.175, a six-week low. Cash cattle fell nearly $10 week over week to an average of $238.28, and boxed beef cutout values declined.
USDA was due to release a set of cattle and supply reports on Friday.
Lower cash and boxed beef prices reduce the value of cattle, while technical selling and weaker cash trade point to lower feeder cattle prices. Feedlot margins and feed buying demand may soften as a result.
Not 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.