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Live and feeder cattle closed sharply higher on March 23 at the CME on follow-through buying, higher wholesale values and a mostly positive Cattle on Feed report. Direct cash trade was starting, with deals at $185 dressed in Nebraska and Iowa, and Oklahoma feeder steers were $15 to $19 higher.
Stronger boxed beef and cash prices support futures and tighten the feeder cattle supply outlook for buyers.
brownfieldagnews.comMeghan GrebnerMar 24, 2020Not enough comparable past events yet for a historical read.
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.
Reports live and feeder cattle closed limit higher on March 23 on follow-through buying, higher wholesale beef values, a supportive Cattle on Feed report and the start of higher cash trade, which directly explains the 2.68% gain.
Feeder and live cattle futures closed limit higher on March 23 on follow-through buying, higher wholesale beef values and a mostly positive Cattle on Feed report, a direct driver of the sharp 5-day rebound.
Live and feeder cattle closed limit higher on March 23 on follow-through buying, higher wholesale values and a supportive Cattle on Feed report, which directly explains the sharp rebound in the 5-day window.
