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Front-month live cattle futures fell their daily limit on Sept. 6 to a contract low of 94.875 cents per pound, the lowest since 2016.
The drop followed weak cash cattle prices at $100 per cwt, down from $103, and falling wholesale beef values after Labor Day. Feeder cattle futures also declined.
Weak cash cattle and beef cutout values signal softer demand for fed cattle, pressuring futures and feeder cattle values. Technical selling after the breakdown of trading ranges added to the decline.
financialpost.comReutersSep 6, 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.
Futures fell the daily limit to a contract low on Sept 6 on weak cash prices and falling wholesale beef, directly driving the 5-day decline.
