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CME live cattle futures closed lower on July 18, 2017, with August down 1.875 cents to 115.075 cents, below its 20-day moving average, on profit-taking and technical selling. Feeder cattle fell more than 2%, and lean hogs finished weaker ahead of the USDA Cattle on Feed report due Friday.
Fund positioning and technical selling pressured cattle ahead of the cattle-on-feed report, and seasonally eroding beef values reduce packer willingness to pay up. Lower futures and feeder prices weigh on cattle markets near term.
agcanada.comAGCanadaJul 18, 2017Not 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.
Published for July 18, it reports lean hogs finishing weaker amid technical selling and positioning ahead of the Cattle on Feed report, which is the same-day sentiment pressure behind the drop.
