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Cattle futures have recovered since April's COVID-driven sell-off, trading in a mixed $5 range in November. Feedlot placements and cattle on feed came in below estimates, and choice beef prices rose 18% in early November, with the cutout reaching $245.06 in late November.
A strengthening boxed beef cutout and tight cattle supplies support higher feeder and live cattle prices heading into 2021, which affects feedlot demand for feed.
hpj.comHPJ StaffDec 4, 2020Not 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.
