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DTN analyst ShayLe Stewart notes that on June 26 cattle futures closed mixed despite USDA's June 23 Cattle on Feed report showing May placements at 1.96 million head, 105% of a year earlier and above analyst estimates. Traders focused more on grain markets than on the report.
Placements above expectations signal heavier feedlot intake, but grain-market focus shows corn drove price direction more than the report.
dtnpf.comShayLe StewartJun 26, 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.
