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Live cattle futures for June and August closed mixed on May 3, with June live cattle down $1.27 and May feeder cattle down $0.55. Choice boxed beef rose $2.80 on good demand for light offerings.
Routine price moves with no new supply or demand shock leave the outlook for cattle and feed demand largely unchanged. The firmer boxed beef price is a small supportive factor for fed cattle.
brownfieldagnews.comMeghan GrebnerMay 3, 2021Not 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.
Reports June live cattle futures down $1.27 on May 3, the very session of the move, with the boxed beef rally failing to support futures, pointing to a direct price decline.
