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Cash steers and heifers traded steady to $5/cwt higher for the week ending March 29, 2019, according to AMS, despite pressure from the Cattle on Feed report and lower lean hog futures. Feeder cattle futures closed an average of $2.55 lower week to week.
Analysts noted wet pastures were drying enough for repairs and fertilizing.
Cattle prices held firm on cash trade while futures softened, leaving feeder cattle values sensitive to spring pasture conditions and feeding demand. Bearish corn reports from USDA may ease feed costs for feedlots.
cattlecurrent.comWLIMar 31, 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.
Week-ending March 29 recap notes Cattle on Feed report pressure, lower lean hog futures and feeder futures down $2.55, which is bearish sentiment carrying into the April 1 session.
