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Live cattle futures firmed on Tuesday as beef packer margins fell negative for the first time in years, with packers losing $14.35 per head. Slaughter was about 128,000 head, up from 120,000 a year earlier.
Traders said tightening cattle numbers favour feedlots, while consumer resistance to high beef prices capped gains.
Negative packer margins signal tight cattle supply and may force packers to cut slaughter, which supports live and feeder cattle prices. Weak consumer demand for beef limits how far those prices can rise.
thecattlesite.comMelanie EppOct 11, 2022Not 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.
