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October live cattle closed $0.02 higher at $183.77 and October feeder cattle closed $0.87 lower at $246.20 on the CME. Feeder cattle were pressured by a higher corn market, while Oklahoma feeder steers traded $3 to $8 higher on good demand.
Higher corn costs weigh on feeder cattle values because feedlot margins depend on cheap feed, while steady fed cattle prices support the live cattle complex.
brownfieldagnews.comMeghan GrebnerSep 30, 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.
