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Chicago live cattle and feeder futures rose on August 28, with October live cattle up $0.37 at $181.55 and September feeders up $3.07 at $254.27. Direct cash cattle trade was quiet, with northern dressed deals roughly $3 lower than the prior week.
Estimated slaughter was 125,000 head, up on the week and year.
Tighter feeding-area ready numbers support cattle prices, but softer northern cash trade and slightly higher slaughter limit the upside for feeder cattle and related feed demand.
brownfieldagnews.comBrent BarnettAug 28, 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.
