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CME most-active October live cattle futures ended lower on August 17, hitting their lowest level since July 31 and retreating from a July 20 contract high of 185.75 cents per pound. September feeder cattle also fell.
Traders cited packer losses on each head slaughtered.
Packers losing money on cattle raises fears of reduced slaughter demand, which can pressure live and feeder cattle prices and weaken demand for feed inputs tied to cattle feeding.
reuters.comTom PolansekAug 17, 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.
