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An Oklahoma State Extension commentary on Nov 16, 2017, describes cattle markets as a mix of bad and good news. Cash fed cattle had pulled back from highs near $124/cwt to a $120-121 range.
Feeder futures had moved lower from early November peaks, with speculative long positions adding downside risk.
Large speculative long positions make futures vulnerable to sharp corrections, which affects forward pricing for feeder and fed cattle. Cash feeder strength supports cow-calf returns but squeezes stocker margins.
wlj.netOklahoma State University ExtensionNov 16, 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.
