Cattle futures fell Friday on concern over a possible strike at the JBS plant in Greeley, Colorado, lower cash fed cattle prices, and month-end selling. Live cattle averaged $3.49 lower and feeder cattle $7.51 lower.
Choice boxed beef cutout rose to $379.84.
Possible packing plant disruption and weaker cash bids cut expected fed cattle demand, pressuring futures. Rising boxed beef values partly offset packer losses and may support future bids.
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.
Explains Friday's decline through the possible JBS Greeley strike (lower slaughter and demand for cattle), lower cash prices and month-end selling pressure.