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Cattle futures have retreated to levels seen in March or April, though the decline appears to be slowing. Cash fed and feeder prices weakened less than futures during the rally and are now also declining.
Beef demand is moderating from 2023 levels into 2024.
Moderating beef demand and a slowing decline in cattle prices point to a stabilizing but soft cattle market, limiting feed demand growth in the near term.
morningagclips.comNaomi LaRoseDec 20, 2023Not 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.
