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The cash market for fed cattle is leading live cattle futures, with August futures about $10/cwt under last week's 5-Area steer average of $192.55. June futures also trade at a discount.
Analysts cite stronger-than-expected beef production and softer expected beef demand ahead of July 4.
Futures trading well below cash signals market skepticism about beef demand and supply, which can pressure live cattle prices and feeder margins heading into summer.
beefmagazine.comJun 21, 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.
