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Live and feeder cattle closed higher on support from cash and wholesale business, with April live cattle at $119.55 and April feeders at $144.22. Hog futures were also firm ahead of the USDA Hogs and Pigs report, with cash deals for cattle at $115-116 live.
Expectations of a bullish Hogs and Pigs report support hog prices and related feed demand for corn and meal.
brownfieldagnews.comMeghan GrebnerMar 25, 2021After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 100 past bullish report events, Lean Hogs moved a median -0.2% over 5 sessions (49% higher; middle half -1.9% to +2.0%), and -0.4% 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.
Live and feeder cattle closed higher on 3/25 on cash and wholesale support, with cash trade at $115-116 signaling the breakout from the sideways market and lifting feeder futures.
