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Cash cattle trade was at a standstill in the Southern Plains and Nebraska, with 640 head traded. Live cattle futures rallied, with October up 95 cents to $108.90 and December up $1.47 to $113.12.
Friday's Cattle on Feed report showed cattle on feed at 104 percent of last year and August placements at 109 percent.
Heavier placements and larger supplies of cattle outside feedyards point to ample feeder supply, which limits upside in feeder prices despite the futures rally. Feed demand from feedlots stays supported by these placements.
wlj.netAnna Miller FortozoSep 29, 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.
