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Cattle futures swung on rumors and official USDA releases during the week, including news that 30 retail ground beef samples tested negative for bird flu. Cash cattle prices firmed on tight long-term supplies, with northern live trade at $187 and dressed at $295-296.
The commentary notes that prices are high and vulnerable to a drop.
Cash strength reflects tight fed cattle supplies, but USDA headline risk adds volatility that can quickly pressure futures. Feed buyers should expect continued swings in cattle-linked demand.
tsln.comMay 3, 2024Not 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.
