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Western Canadian yearling markets were mostly unchanged, while calf markets were steady to $5 higher, with some light calves up $10-$20. Feedlots are shopping aggressively for quality calves, and the October-to-August feeder futures spread is $22.50.
Lower beef production forecasts and strong feedlot demand for calves support feeder cattle prices. The carry in the futures curve encourages feedlots to buy ownership earlier.
grainews.caJerry Klassen, GFM Network NewsSep 27, 2023After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% 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.
