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Fed cattle traded $2-3 higher in late September with live prices of $103-109 and dressed prices of $165-169. The Cattle on Feed report showed August placements up 9% from a year earlier, and feeder futures were erratic afterward.
Higher placements add to future fed supply and pressure cattle prices, while feeder futures moved lower on the report, a signal that the cattle complex is weighing supply against steady beef demand.
wlj.netPete Crow, WLJ publisher emeritusOct 2, 2020After 78 past neutral report events, Live Cattle moved a median +0.2% over 5 sessions (54% higher; middle half -1.0% to +1.0%), and +0.7% over 20.
After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% over 20.
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.
