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Live and feeder cattle closed lower on October 22 ahead of USDA's Friday On Feed report. Cash cattle traded at about $105 live and $164 dressed, and feeder calf and yearling sales at Sheridan, Nebraska were steady to lower.
Choice boxed beef closed $0.39 higher at $208.86.
Lower futures and softer feeder auction prices point to weaker cattle values heading into the On Feed report, while firmer boxed beef provides some offset for feedlot margins.
brownfieldagnews.comMeghan GrebnerOct 23, 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.
