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Negotiated fed cattle prices in Texas and Kansas traded $9/cwt higher at $180, an all-time high, while northern feeders were bidding $187. CME live cattle futures posted a large rally, and the Choice boxed beef cutout rose to $307.07.
Supply tightness after two record production years is driving cash and futures to record levels, supporting cattle prices and feed demand for the coming 18 to 24 months.
thebeefread.comJun 1, 2023Not 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.
Record negotiated cash fed cattle prices of $180 (+$9) and a higher Choice cutout drove a large futures rally in the window.
Record negotiated cash prices of $180 (up $9) and higher boxed beef drove a large futures rally.
