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US live and feeder cattle futures retreated on Wednesday, with CME November feeder cattle down 1.725 cents to 142.05 cents/lb. The slide followed a rally in corn and wheat futures to their highest since March after USDA reported grain stocks below trader expectations.
Lean hog futures rose on firm cash prices.
Higher grain prices raise feeding costs, making buyers less willing to pay up for feeder cattle, which pressures feeder futures. Feed buyers should expect firmer corn and wheat costs to persist while cattle margins tighten.
manitobacooperator.caGFM Network News, Tom PolansekSep 30, 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.
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.
