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Federal-State market news reported feeder and stocker cattle receipts of 439,900 head for the week ending Aug. 23, far above last week and a year earlier.
Drought in the North Plains pushed spring-born calves to market 2-3 months early, and demand for yearling steers and heifers was good to very good. Feeder prices rose while corn and soybean futures fell sharply that week.
Early drought-driven calf marketings add feeder supply, but strong demand and lower grain costs support feeder prices. Cheaper feed favors cattle feeders' margins.
capitalpress.comStaff ReportsAug 24, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
