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Live cattle closed higher at the CME on stronger wholesale beef values and hopes for resolution of supply chain problems. June live cattle rose to $84.70 and May feeders to $118.50, while direct cash trade was light with dressed bids around $150 in Nebraska.
Rising boxed beef values support cattle futures and fed cattle demand, though thin cash trade signals uncertainty for feedlot margins.
brownfieldagnews.comMeghan GrebnerApr 28, 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.
Live cattle and May feeders rose on stronger wholesale beef and hopes of resolving supply chain problems, which started the rebound in the window.
