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Cattle markets traded sideways into the Memorial Day holiday weekend, with June live cattle near $116.35 and August near $119.42. Cash steers sold between $116 and $120.50, and boxed beef prices were easing from record highs.
Packer slaughter capacity and utilization continue to set cash and boxed beef prices, keeping live cattle range-bound. Softening cutout values could eventually pressure cash cattle.
wlj.netAnna Miller FortozoMay 28, 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.
