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October live cattle closed $0.72 lower at $177.90 and September feeder cattle closed $1.80 lower at $239.50 on the CME. Direct cash cattle trade was light to moderate, with Nebraska live deals at $184, about $2 below the prior week.
Choice boxed beef rose $1.37 to $308.66 while Select fell $1.44.
Lower cattle futures and cash trade point to softer cattle prices, while higher Choice beef supports packer margins. Feeder cattle buyers face weaker input values heading into the fall.
brownfieldagnews.comMeghan GrebnerAug 29, 2024Not 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.
