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Fed cattle traded about $3 lower on a live basis in the week, with live prices mostly $116 to $117 and dressed $184 to $186. This was the third straight weekly decline, and the 5-area weighted average fell to $116.70 live.
The Choice cutout was $219.71, down $1.23 from a week earlier.
Falling cash prices are eroding the positive basis to June futures, which has been pushing feedlots to sell cattle early. Continued weakness would pressure live cattle prices further.
u.osu.eduSmith atMay 22, 2019Not 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.
