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DTN analyst ShayLe Stewart says feeder cattle futures have been mixed but the spot January contract closed above its 100-day moving average, signaling technical support. Cheap feed, expected thin feeder supplies next spring and the Fed's rate cut are cited as bullish drivers.
Cheap corn and abundant hay lower feeding costs, encouraging buyers to place feeders now, which supports feeder cattle prices and demand for feed grains.
dtnpf.comOct 23, 2024Not enough comparable past events yet for a historical read.
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.
