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Cattle futures closed lower on October 12 on weak fundamentals, including a steady to lower cash trade and softer beef values. Live cash trade was at $111 and dressed sales at $173 to $174, with feeder calf prices steady to lower at local auctions.
Weaker cash and boxed beef prices reduce packer willingness to pay for cattle, pressuring live and feeder futures ahead of the Cattle on Feed report.
brownfieldagnews.comMeghan GrebnerOct 12, 2018Not 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.
