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Wisconsin livestock specialist Jeff Swenson reports unexpected weakness in cattle markets in early November. The Choice cutout fell to around $302 and packers held back on country bids, while cash cattle were mostly steady.
Softer boxed beef values reduce packer willingness to bid up cattle, which pressures feeder and fed cattle prices. Markets are waiting for direction from the upcoming USDA reports.
midwestfarmreport.comPam JahnkeNov 10, 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.
Describes unexpected early-November cattle market weakness with the Choice cutout falling to about $302 and packers holding back bids, which adds to bearish sentiment around the drop, though the timing is less specific.
