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Live cattle futures closed higher on stronger expected cash trade and a USDA Supply and Demand report that revised 2019 beef production estimates down. Feeder cattle futures gained alongside weaker corn prices.
April live cattle closed $1.10 higher at $127.92.
A lower beef production forecast tightens expected supplies, supporting cattle prices. Cheaper corn also helps feeder cattle margins and supports feeder futures.
brownfieldagnews.comMeghan GrebnerFeb 8, 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.
