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Cattle futures fell after the October Cattle on Feed report. NDSU economist Tim Petry expects fall cash prices to stay above last year's levels but anticipates seasonal weakness until calves are weaned and corn harvest is finished.
Seasonal cash weakness ahead could keep live cattle prices under pressure in the near term, even though calf values remain higher year over year.
rrfn.comDon WickOct 30, 2023After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.
After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% over 20.
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.
