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Cattle and hog futures closed higher on May 6 after Monday's losses, as contracts were oversold. June live cattle closed unchanged at $112.27 and August feeder cattle rose $1.25 to $145.60.
Cash cattle deals in the South were reported about $2-3 lower than the prior week's averages.
The rebound is a short-term technical bounce after heavy declines, and cash trade remains lower than the prior week. The move does not signal a change in the underlying supply and demand picture.
brownfieldagnews.comMeghan GrebnerMay 7, 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.
