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The national feeder and stocker cattle report for the week ending May 23 showed receipts of 123,400 head, well below last week and last year, with steers and heifers selling steady to 3.00 lower. Feeder cattle futures fell 3.50 to 4.50 and live cattle 0.50 to 0.80 on June and August contracts.
Drought in the western US and high feed and fuel costs pushed some cows into feedyards.
Drought-driven forced selling of cows and tight feedstuffs add feeder supply in the near term, pressuring feeder cattle prices despite a shrinking cow herd. Feed buyers face demand that is cautious even as feedstuff availability is a driver of placements.
capitalpress.comStaff ReportsMay 28, 2022Not enough comparable past events yet for a historical read.
Not 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.
