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Cattle futures closed sharply lower on January 3 as wholesale beef values fell, with February live cattle down $1.30 and January feeder cattle down $1.62. Boxed beef Choice fell $1.98 on light to moderate demand and heavy offerings, while strength in corn pushed feeder prices lower.
Lower wholesale beef values feed directly into cattle futures and cash prices, and firmer corn prices raise feeding costs that weigh on feeder cattle values.
brownfieldagnews.comMeghan GrebnerJan 4, 2019Not enough comparable past events yet for a historical read.
Not 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.
