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Oklahoma State extension economist Derrell Peel reports that rapid winter wheat pasture development from rainfall is supporting stocker cattle demand. Auction prices for preferred stocker weights jumped sharply in late September, and feeder prices were 4 to 10 percent above year-earlier levels.
Seasonal October lows may be muted as a result.
Strong grazing demand for stockers supports feeder cattle values heading into the fall calf run, which keeps cattle-feeding margins and feed demand from weakening as seasonally expected.
news.okstate.eduOct 8, 2018After 79 past bullish weather events, Feeder Cattle moved a median +0.1% over 5 sessions (53% higher; middle half -1.4% to +1.7%), and +1.4% over 20.
After 20 past neutral weather events, Live Cattle moved a median +0.4% over 5 sessions (60% higher; middle half -0.3% to +1.2%), and +3.0% over 20.
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.
