Loading…
USDA's weekly feeder and stocker report showed receipts of 517,800 head this week, nearly double last week. Drought conditions improved somewhat, while calf marketing started early and herd liquidation continued.
September corn closed at 6.6875 after rising 0.4275 for the week.
Heavy receipts and early calf marketing add near-term feeder supply, which can cap prices. Corn strength in the same week raises the cost of feeding those animals.
capitalpress.comStaff ReportsAug 27, 2022After 44 past neutral report events, Feeder Cattle moved a median +0.3% over 5 sessions (59% higher; middle half -0.9% to +1.0%), and +0.5% 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.
