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Fed cattle prices have firmed about $1 per cwt to around $124 over two weeks, with bids in Texas reaching $126. Fed cattle carryover has risen through October, and the Choice/CAB spread is near record width.
Packers have little incentive to raise bids until the fed cattle carryover shrinks, so prices are likely to stay flat in the near term, limiting feedlot feed demand growth.
wylr.netOct 29, 2021Not 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.
