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Cash fed cattle prices fell $2 to $3 lower for the week, with southern cash at $125-$126 and northern at $126-$127. Choice boxed beef cutout dropped $1.65 to $227.44 while feeder and calf auctions were steady to $5 higher.
Analysts note CME live cattle futures topped and may be entering a longer downtrend.
A softer cash trade and weaker futures suggest fed cattle prices may be gradually working lower, which pressures feeder cattle values and the outlook for cattle feed demand.
drovers.comNov 20, 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.
