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Cash fed cattle traded lower in Nebraska, about $4 below the previous week, with some deals at even lower prices for May delivery. Choice boxed beef fell to $212.50 on light demand.
CME live and feeder cattle contracts posted sharp losses on long liquidation and weak wholesale beef demand.
Falling cash and boxed beef prices weaken the outlook for fed cattle and feeder cattle values. Lower cattle prices reduce demand for feed used in finishing operations.
brownfieldagnews.comApr 28, 2016Not 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.
Lower cash trade, weak boxed beef and long liquidation point to continued selling pressure and weak fundamentals that likely carried into Monday.
