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On Sept 29, October live cattle closed $2.30 lower at $184.20 and October feeders closed $2.25 lower at $252.47, with the decline attributed to technical selling and concerns about a government shutdown. Cash trade was quiet, with southern live cattle at $182 to $183 and northern dressed at $288 to $293.
Technical selling and shutdown concerns pressured futures, while steady cash bids indicate the market is holding firm underneath, so price direction depends on near-term risk sentiment.
brownfieldagnews.comMeghan GrebnerSep 29, 2023Not enough comparable past events yet for a historical read.
Not 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.
Sept 29 sharp decline in feeder futures on technical selling and shutdown worries set up downward momentum carrying into Oct 2.
