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DTN analyst ShayLe Stewart says cash cattle prices have made large gains, and thin front-end supplies of market-ready cattle have pushed live and feeder futures higher. Packers could slow processing speeds to cut weekly kill and back up showlists, while beef demand remains a key uncertainty.
Weekly kill above 600,000 head is needed to keep showlists current.
Packers' slaughter pace and retail beef demand will determine whether the cash cattle rally can continue. Slower kill would support cash prices, while weak demand would undercut them.
dtnpf.comShayLe StewartApr 17, 2023Not 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.
