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Cattle futures closed lower on Oct. 22 ahead of the USDA Cattle on Feed report, with cash trade quiet at about $124 live.
Feeder cattle prices at Ogallala auction were $4 to $9 lower for steers.
Lower live and feeder cattle futures reduce hedging and purchase incentives for feedlots, with a modest effect on feed grain demand. The upcoming report was seen as potentially supportive longer term.
brownfieldagnews.comMeghan GrebnerOct 22, 2021brownfieldagnews.comMeghan GrebnerOct 21, 2021Not 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.
