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Live cattle futures closed mostly higher on July 1 in a narrow range, with August live cattle down $0.25 at $104.10 and August feeder cattle up $0.17 at $137.02. Feeder cattle gained on follow-through buying and a lower move in corn.
Oklahoma feeder steer prices were $2 to $4 higher on the week.
Lower corn prices reduce feeding costs and support feeder cattle values. Cash feeder prices strengthening points to firmer demand for cattle going into the feedlot.
brownfieldagnews.comMeghan GrebnerJul 1, 2019Not enough comparable past events yet for a historical read.
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.
On July 1 feeder futures were supported by follow-through buying and lower corn, marking the rebound from the lows that fed into the following week's gains.
