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Live and feeder cattle futures closed sharply lower after Friday's USDA On Feed report, with June live cattle down $3 to $135.42. Hog futures also started the week lower.
Lower cattle futures reflect softer cash trade and feedlot placement data, pressuring feeder cattle values and feed demand expectations.
brownfieldagnews.comMeghan GrebnerApr 25, 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.
Live cattle futures fell sharply (June down $3) after the On Feed report; it is the leading selloff just before the window, with follow-through weakness.
The sharp drop after the On Feed report on April 25 lowered the price level, so the later move partly reflects that selloff, although the date is just before the window.
