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Live cattle futures on the CME fell on technical pressure and weak wholesale values, with April live cattle down $1.55 to $126.77. Feeder cattle also declined on selling and uncertain demand, with May feeders down $3.10 to $146.52.
Cash cattle trade was light to moderate at $125 to $127 live.
Softer wholesale beef and weak cash trade signal near-term pressure on live and feeder cattle values for feeder buyers. The moves look technical rather than driven by a new supply or demand shock.
brownfieldagnews.comMeghan GrebnerApr 24, 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.
On April 24 futures fell $1.55 on technical pressure and weak wholesale values, with cash lower at $125-127, starting the slide.
