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Feeder cattle futures retreated on Friday from a contract high set Thursday, as rising corn prices temporarily reduced expectations for cheaper feed. Live cattle also weakened as boxed beef cutout prices softened and some buyers cut purchases after high prices.
Feed is the largest input for cattle finishing, so higher corn trims expected feeder demand, while softer beef cutout pressures live cattle values. Price direction for feeders and live cattle is mixed but the broader cattle complex remains firm.
thebeefsite.comMelanie EppMar 13, 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.
