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Texas feeder cattle auctions reported steady to $10 higher prices for the week ending February 24. Wholesale Choice beef rose $7.15 to $198.96 per cwt.
Export sales of beef and cotton were reported, and pasture conditions deteriorated in South Texas due to dry weather.
Higher wholesale beef and feeder cattle prices reflect firm demand and tight supplies of cattle. Dry South Texas pastures could increase feed needs later.
tscra.orgWritten by: kristinFeb 27, 2017Not 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.
Report dated Feb 27 on strong wholesale Choice beef (+$7.15) and steady-to-higher cattle auctions reflects the demand backdrop supporting live cattle futures that day.
