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Live and feeder cattle futures on the CME closed lower, with June live cattle down $1.10 and August feeders down $1.05. Traders cited limited buying interest and the prior week's Cattle on Feed report.
Boxed beef closed higher on moderate to good demand and light offerings.
Feeder cattle futures fell after the Cattle on Feed report, pointing to bearish sentiment on supply. Higher boxed beef values partly offset the weakness in live cattle, which may limit downside for feed demand.
brownfieldagnews.comMeghan GrebnerApr 22, 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.
