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CME cattle futures ended lower on Nov 17, 2017, with traders squaring positions ahead of the Cattle on Feed report. The report showed another round of large cattle placements.
December live cattle closed $0.70 lower at $118.85, and January feeder cattle fell $2.17 to $151.72.
Large placements signal more cattle coming to market, which can pressure futures and the feed demand that supports feedlots. Feeder prices also reflect the higher corn costs seen that day.
brownfieldagnews.comMeghan GrebnerNov 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.
