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On April 22, 2021, live cattle futures fell as higher corn prices pressured the complex, with the April live cattle contract down $1.45 to $118.32. Boxed beef rose, with the Choice cutout up $1.85 to $282.31, and steers traded at $118-122 on the cash market.
Rising corn costs are pressuring cattle futures, with feedlots lacking leverage to lift cash prices despite firm boxed beef. Feed buyers should watch corn costs as the key driver of feeder margins.
wlj.netCharles WallaceApr 22, 2021Not 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.
