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Cattle markets softened through the week ending Nov 17, 2017, as wholesale beef values fell and packers were well stocked ahead of Thanksgiving. Negotiated fed cattle traded $2-$4 lower at mostly $119-$120/cwt.
Feeder cattle futures averaged $4.55 lower week over week.
Lower fed cattle and boxed beef prices weaken feedlot margins and reduce the appetite for feeder cattle and feed. Market direction remains tied to retail beef demand and packer buying.
cattlecurrent.comWLINov 17, 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.
