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Cash cattle prices recently topped $151 per hundredweight, up 20% from a year earlier, according to AFBF economist Bernt Nelson. USDA data showed feedlot placements down 4% in September and total herd down 2%, with cattle on feed at 11.7 million head as of Nov.
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Tightening feeder supply and lower placements point to firmer cattle prices ahead, supporting the bullish outlook for feeder and fed cattle. Higher feed costs also add pressure on feedlot margins.
farmweeknow.comDANIEL GRANT FarmWeekNov 18, 2022After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
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.
