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Calves and feeder cattle sold $1 to $3/cwt higher nationwide in the week ending January 29, while Feeder Cattle futures fell an average of $4.35. The CME Feeder Cattle Index rose $2.03 to $136.02, and drought is tightening hay supplies across the Great Plains and West.
Drought-driven hay tightness raises producers' cost of holding cattle and can push marketings forward. Early grass-run price strength would support feeder values into spring.
cattlecurrent.comWLIJan 31, 2021Not 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.
