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Fed cattle trade was not well established on February 1, with asking prices at $125 to $126 live and bids at $121 to $123. The five-area weighted average was $123.12 live, up $0.08 from the prior week.
The Choice cutout was $214.07 at midday, down $1.32 from the previous day.
Cattle feeders and packers are delaying trade while they wait for a directional move, so price discovery is slow and supply remains tight in the near term.
thecattlesite.comGlobal Ag MediaFeb 1, 2019Not 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.
