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August live cattle gained $1.02 to $97.30 and October rose 77 cents to $100.67 in the week before July 2. Cash trade was slow, with live cattle at $95 to $98 and dressed at $148 to $155.
Choice boxed beef hovered just above $200 and was down $1.59 to $205.38, while large carcass weights and a backlog of cattle weigh on demand.
Heavy carcass weights and slack beef demand pressure packer margins and cash cattle values, though futures gains and supply constraints offer some support for feeders.
wlj.netPete Crow, WLJ publisher emeritusJul 2, 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.
