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Live cattle futures closed lower on the CME, with December live cattle down $1.10 at $119.45 amid sharply lower wholesale beef values. Feeder futures fell about $1.50 on the same factors, and direct cash cattle trade was quiet at $119 to $120 live.
Lower boxed beef values reduce packer willingness to pay for cattle, pulling live and feeder futures down.
brownfieldagnews.comMeghan GrebnerDec 4, 2019Not 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.
