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Feeder cattle futures fell sharply in the weeks before May 15, erasing gains made since March. Nearby contracts were converging toward cash prices, which had eased slightly.
Strong cattle-on-feed numbers were cited as a key factor behind the decline.
Strong cattle-on-feed supplies weigh on feeder cattle prices and reduce the premium in futures. Falling feeder prices lower the value of cattle that buyers of feed would be finishing.
capitalpress.comCAROL RYAN DUMASCapital PressMay 15, 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.
