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Live and feeder cattle futures closed higher as direct cash cattle trade came in at higher prices. June live cattle settled at $166.10 and August feeder cattle at $234.52.
Strong cash trade signals firm fed cattle values and supports feeder futures, which raises the cost of feeder inputs for buyers.
brownfieldagnews.comMeghan GrebnerMay 24, 2023Not 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.
Strong cash business lifted live and feeder futures (August feeders at 234.52), the start of the rally window.
Feeder and live cattle futures closed higher on May 24 on strong cash trade, a demand-driven momentum that preceded the May 25 jump.
