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Analysts note that fed cattle prices are holding strong, counter to the usual seasonal pattern. The June cold storage report shows beef in storage at its lowest since October 2014.
Live cattle futures for February trade near $137, about $16 above the current market.
Low beef inventories and firm fed cattle prices support live cattle values and feeder demand, and they point to continued tightness in beef supply.
delcotimes.comDelco Times | delcotimes@delcotimes.comJul 27, 2021After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
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.
