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CME live and feeder cattle futures closed lower on Oct 31 ahead of widespread direct cash trade and concerns about long-term beef demand. December live cattle fell $1.07 to $117.22 and November feeder cattle fell $0.27 to $147.60.
Direct cash trade was light, with Kansas steady to $2 higher.
Weaker futures and cautious cash bids signal softer near-term cattle values for feedlot buyers. Demand concerns add downside pressure.
brownfieldagnews.comMeghan GrebnerOct 31, 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.
Same-day report that Dec live cattle futures fell $1.07 on Oct 31 on beef-demand worries and pre-cash-trade positioning, but it describes a decline whereas the 3.45% move direction is ambiguous (it may be a rebound), so relevance is tempered.
