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Lean hog futures were mostly higher at the start of the week, while live cattle closed lower and feeder cattle mixed on the CME. Cash cattle trade was quiet and buyers slowed due to a winter storm.
Choice boxed beef rose $1.67 to $278.83, and estimated cattle slaughter was 115,000 head, down 12,000 year on year.
Slower cattle trade and lower live cattle reflect weather-related disruption and softer near-term cattle demand, which could weigh on cattle-linked feed demand. Firmer hogs and boxed beef offer some offset.
brownfieldagnews.comMeghan GrebnerJan 8, 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.
