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Live cattle futures fell more than $9 on the April contract last week, with June closing at $82.92 while deferred contracts traded higher. The Choice boxed beef cutout hit a record $184.39, up over $30 on the week, as packers killed fewer cattle than a year earlier.
Tight packer slaughter and record boxed beef support fed cattle values and feedlot demand for feeders, while near-term futures pressure reflects deliverable supply concerns.
wlj.netPete Crow, WLJ publisher emeritusApr 23, 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.
