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Kentucky livestock economist Kenny Burdine says fed cattle are trading above $104 per cwt in mid-August, nearly $10 above early July. CME feeder futures are in the mid-to-upper $140s for fall, and the cattle backlog is slowly clearing as slaughter runs near year-ago levels.
Firmer fed and feeder cattle prices support the cattle complex heading into fall marketings. Slaughter weights and the pace of backlog clearance will determine whether gains hold.
u.osu.eduSmith atAug 5, 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.
