Loading…
Fed cattle trade stayed slow, with packers offering $121 and feeders holding out for $124 in the North and $125 in the South. USDA reported only 1,994 head traded at an average of $124.
Packers cut slaughter levels to protect wholesale beef values during the seasonally slow winter demand period.
Slow demand and large feedlot supplies keep packers and feeders in a standoff, which limits upward price movement. Packers trimming slaughter helps support prices if beef demand picks up later in the spring.
wlj.netWLJFeb 8, 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.
