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Cattle futures closed lower on October 30 on technical selling, with December live cattle down $0.45 to $116.80 and November feeders down $1.72 to $152.17. Direct cash cattle trade was quiet and wholesale beef values were higher.
Russell, Iowa feeder steer receipts saw prices mostly $3 to $5 lower.
Lower feeder futures on technical selling reflect a routine pullback with firm beef cutouts, leaving feed demand from cattle feeding broadly unchanged.
brownfieldagnews.comMeghan GrebnerOct 30, 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.
