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Cattle futures closed higher on Monday, with April live cattle at $239.55 and April feeders at $363.30. Feeder cattle prices at Oklahoma National Stockyards rose $4 to $8, as drought intensified and pushed more cattle to market.
Drought-driven feeder supply increases can cap feeder price gains even as strong demand supports the market. Lower pasture conditions also tighten feed and grazing margins.
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.