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Western Livestock Journal reports slow fed cattle trade in early October, with cash fed cattle at $109.85 to $111 and packers holding leverage. Futures were mostly flat, and the cash basis is negative, pushing feeders toward deferred months.
Packers processed about 650,000 head the prior week.
A slow cash market with packer leverage and negative basis pressures cattle feeder margins and reduces near-term feed demand from feedlots.
wlj.netPete Crow, WLJ publisher emeritusOct 8, 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.
