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The DTN fed cattle market rallied sharply in early 2017, with the five-market steer average rising from $117 to $140 since January. Feedlot closeouts averaged a profit of $279.64 per head year to date.
Deep discounts in deferred live cattle futures encouraged feedlots to sell early.
Tight fed supplies and strong boxed beef demand kept cash prices high relative to feedlot breakevens. Forward discounts in futures signal that the cash strength could fade later in the year.
Not 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.
