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Kentucky fed cattle prices slipped in October, a counter-seasonal move, while spring CME live cattle futures dropped sharply. Feeder prices in the state fell in the last weeks of the month, with 850-pound steers in the low-to-mid $120s per cwt.
Rising corn prices also weighed on feeder markets by raising winter feed costs.
Lower live cattle futures and rising corn costs squeeze feeder margins and reduce the bids cattle feeders can offer for feeder animals. Feed buyers face higher corn costs that support feed prices.
u.osu.eduSmith atNov 4, 2020Not 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.
