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US live cattle futures jumped on August 31 to snap a seven-session losing streak, with October live cattle up 0.4 cents to 105.3 cents/lb. Choice boxed beef fell $2.05 to $227.35/cwt, and traders expected weaker cash prices to pressure futures again.
A short-covering bounce does not change the fundamental picture of weak cash cattle and softening boxed beef, which points to lower feeder-animal values and cautious feed buying.
thecattlesite.comGlobal Ag MediaAug 31, 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.
