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DTN analyst ShayLe Stewart asks whether the CME Feeder Cattle Index can top $250/cwt this week, noting the index and continuous feeder contract trade at levels not seen since 1991. The column attributes the rally to cheaper corn, limited cattle supplies and strong beef demand.
Tight feeder supplies and firm beef demand keep feeder cattle prices elevated, which raises the cost of finishing cattle for feedlots and the value of feed bought against them.
dtnpf.comShayLe StewartAug 30, 2023Not 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.
