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CME November feeder cattle futures fell 0.925 cents to 135.525 cents per pound on 9 October, to a three-month low. Live cattle futures for October rose slightly.
The decline was attributed to surging US grain prices.
Higher corn and grain costs raise the cost of finishing cattle, which pressures feeder cattle values and the margins of feedlots buying them.
thecattlesite.comGlobal Ag MediaOct 11, 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.
Feeder futures hit a three-month low on surging grain prices, which raise feedlot costs and lower feeder bids, setting up the continued decline.
