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Cash fed cattle traded steadily over the week, with feedlots holding out for higher prices as packers sought supply. About 100,258 head sold in the week ending October 2, with live steers averaging $144.95.
October live cattle futures gained $1.20 to close at $145.32.
Packers' need for cattle supports cash prices, which in turn underpin live cattle futures. Sideways trade signals no strong new direction for cattle prices.
wlj.netAnna Miller FortozoOct 7, 2022Not 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.
