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Live and feeder cattle futures closed notably higher on Monday, despite a Friday Cattle on Feed report that was somewhat bearish with placements up 6% year on year. September feeders rose $2.77 to $241.35, and October live cattle gained $1.27 to $176.97.
The rally reflects trader positioning and ample feeder resistance near $240, not a new supply shock. Feeder buyers should watch whether the move holds above that level.
dtnpf.comShayLe StewartAug 26, 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.
