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Scott Varilek's weekly cattle column says feeder cattle futures broke as corn prices rose on delayed planting. Cash fed cattle traded mainly at 186-188 dressed, and feedyards remain unprofitable with higher feed costs.
Summer futures sit well below the current market.
Higher corn and feed costs squeeze feedyard margins, which pressures feeder cattle demand and prices. Corn strength from planting delays reinforces the feed cost pressure on cattle.
tsln.comMay 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.
Feeder futures broke as corn rose on delayed planting while feedyards were unprofitable, reducing their bids for feeders.
Says feeder futures broke as corn rose on delayed planting, raising feed costs and squeezing feedyard margins.
