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Cash livestock trade was slow on the Presidents' Day holiday, with feeder steers $1 to $3 lower at Oklahoma National Stockyards. Choice boxed beef closed $1.76 lower at $264.09, while cash hogs closed firm on limited negotiated purchases.
Lower boxed beef values pressure packer margins and cash cattle, while firm hog prices reflect tight market-ready supplies. The day's moves are routine and do not indicate a new supply shock.
brownfieldagnews.comMeghan GrebnerFeb 21, 2022Not 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.
