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Live and feeder cattle traded higher on May 28 after the Cattle on Feed report showed April placements down 5.8% and marketings up 10.1%. Choice boxed beef rose and cash trade was reported near $187 to $193.50.
Slower feeder placements tighten feeder supply and keep cattle prices firm, which supports demand for feed grains used in feedlots.
ibestmedia.comMay 28, 2024After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
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.
