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Live and feeder cattle futures closed higher on June 30 as corn prices dropped, with feeders leading the gains. August live cattle closed $2.67 higher at $177.17 and August feeders closed $5.20 higher at $247.57.
Cash live cattle trade in the South was mostly $178 to $179, $1 to $2 below the prior week.
Lower feed corn costs improve feeding margins and support feeder cattle values. Cash cattle softness in the week suggests the rally is driven more by input costs than by stronger beef demand.
brownfieldagnews.comMeghan GrebnerJun 30, 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.
