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Live cattle futures closed lower on weak cash trade and lower wholesale values, with feeder futures also pressured by a higher corn move. Direct cash bids were $123 live and asking prices $126 live.
Weak cash and wholesale trade lowers the cattle price outlook, while a corn rally raises feeding costs for buyers.
brownfieldagnews.comMeghan GrebnerMay 1, 2019Not 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.
Same-day report cites weak cash trade and lower wholesale values pressuring live cattle futures, a demand and price-discovery factor that contributed to the decline.
On May 1 futures fell on weak cash bids ($123 vs $126 asking) and lower wholesale values, with higher corn pressuring feeders.
Weak cash trade and lower wholesale values weighed on live cattle futures on May 1, with higher corn adding pressure to feeders.
