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An Ohio State Extension feedlot column explains how packer supply mix of contracted, negotiated and cash cattle drives auction prices. It notes that record fed cattle auction prices of $150-160 per cwt occurred in early December at several Ohio markets when packers were short on supply.
Packers competing for scarce cash cattle to fill shackle space push up fed cattle prices, a bullish signal for live cattle values.
feedlotmagazine.comSource Garth Ruff, Beef Cattle Field Specialist, Ohio State University ExtensionJan 6, 2022Not 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.
