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Marketplace explains that beef prices have risen this fall, with cattle futures up almost 10% between late August and late October. Drought in the western Dakotas, Kansas, Nebraska and Oklahoma has pushed ranchers to shrink herds, while production costs and steady demand add support.
Drought-driven herd liquidation reduces cattle supply and keeps cattle prices firm, while higher feed and cost pressures persist for feeders.
marketplace.orgJustin HoNov 11, 2024After 80 past bullish weather events, LCATTLE moved a median +0.1% over 5 sessions (54% higher; middle half -0.8% to +1.3%), and +0.7% over 20.
After 79 past bullish weather events, FCATTLE moved a median +0.1% over 5 sessions (53% higher; middle half -1.4% to +1.7%), and +1.4% 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.
