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DTN analyst ShayLe Stewart describes the feeder cattle market as fundamentally tight, with the US beef cow herd at a 52-year low. The CME Feeder Cattle Index broke above $250/cwt in September for the first time since its 1991 launch.
Limited feeder supply and strong feedlot demand into late 2023 and 2024 point to continued firm feeder cattle prices, though external shocks add volatility.
dtnpf.comShayLe StewartOct 11, 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.
