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Live cattle futures fell sharply in the week ending October 30 after a volatile stretch, with December and February contracts dropping around $10 in nine trading days before recovering $5.50 to $6. Cash cattle fell about $2 the previous week, packer bids were lower at $220/cwt dressed, and heavy fed cattle supplies remained large.
Large fed cattle supplies and lower packer bids point to softer cattle prices into late fall, while volatility raises risk for feeder cattle buyers and hedgers.
realagriculture.comRealAgriculture News TeamOct 30, 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.
