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A columnist examines March feeder cattle futures and the widening gap between spot and deferred contracts as February closes. The piece also marks the first anniversary of Russia's invasion of Ukraine and touches on geopolitical tensions.
A widening spot-to-deferred gap signals expected firmer feeder prices later in the year, supporting cattle values, while the war mainly affects the broader grain outlook.
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.