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Live cattle futures on the CME traded mostly lower on February 28 while the direct cash cattle trade stood still. April live cattle closed $0.07 lower at $129.85 and March feeder cattle fell $1 to $142.87.
Boxed beef closed firm, with Choice up $0.49 at $219.95.
Stalled cash trade with wide bid-ask spreads leaves futures without a clear price anchor, and cattle buyers face uncertainty on feeder and fed cattle costs near term.
brownfieldagnews.comMeghan GrebnerFeb 28, 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.
