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Western Canadian feeder cattle prices softened by $3-$5/cwt late in the week of November 14. The January feeder futures contract closed at $226.42/cwt, down $42 from the September 15 high, and feedlot margins turned negative for summer 2024.
Negative feeding margins may reduce feedlot placements and cattle demand, pressuring feeder cattle prices and the demand for feed grains used in finishing.
agcanada.comAGCanadaNov 14, 2023Not 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.
