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USDA's weekly feeder and stocker cattle report for early April showed receipts of 224,000 head, with demand strong for lightweight cattle. Feed costs have risen sharply and CME live cattle contracts have retreated, making it hard for feeders to match breakevens to futures.
Sharply higher feed costs and lower futures squeeze feeder margins, while limited supplies of spring calves keep feeder prices firm.
capitalpress.comStaff ReportsApr 4, 2022After 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.
After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% 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.
