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CME March feeder cattle settled up for the week as corn futures fell 5.8%, their biggest weekly drop since March 2020. USDA's Cattle on Feed report showed December feedlot placements at 101% of a year earlier, above expectations of a 3% decline.
Cheaper corn lowers feedlot costs and may encourage placements, while analysts expect slower placements to tighten finished cattle supply later in 2021, supporting cattle prices.
agcanada.comAGCanadaJan 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.
