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CME live cattle futures fell on technical selling, lower boxed beef and pressure from sharply lower direct cash trade in the week. June live cattle were down $0.25 to $113.42 and feeder cattle lower across the board.
Lower cash and wholesale prices pass through to futures and reduce the value of cattle that feedlots and feed buyers depend on, weakening feeder demand sentiment.
brownfieldagnews.comMay 3, 2019Not 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.
Technical selling, lower boxed beef and sharply lower direct cash trade pressured futures on May 3.
On May 3 futures fell on technical selling, lower boxed beef and sharply lower cash trade, extending the decline.
