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CME cattle futures closed sharply lower on Nov 14, 2017, driven by technical selling. December live cattle closed $1.07 lower at $119.50, and feeder cattle also declined.
Cash cattle trade was slow, with bids at $119 in some areas.
Weak cash bids and falling boxed beef values lower the expected return on feedlot placements, which can reduce near-term feeder cattle demand and feed purchases.
brownfieldagnews.comMeghan GrebnerNov 14, 2017Not 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.
