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The Feedstuffs outlook reports cash fed cattle at $130-132/cwt and a blended cutout near $215/cwt. USDA's Cattle on Feed report showed record-large March placements at 111% of last year.
Hog weights are rising faster than usual, and hog prices have eased.
Record placements extend large spring fed cattle supplies into summer, which could cap cattle gains later. Rising hog weights add pork supply and pressure hog prices.
feedstuffs.comApr 25, 2017After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 159 past bearish report events, Lean Hogs moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% over 20.
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.
