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Cattle futures closed lower on Aug. 28 after profit-taking following Monday's gains, with August live cattle at $107.80 and August feeder cattle at $149.35.
Direct cash cattle trade was at a standstill, and choice boxed beef closed $1.10 lower at $212.53.
Weak boxed beef demand and stalled cash trade point to softer near-term cattle prices, which can reduce demand for feed ahead of the holiday weekend.
brownfieldagnews.comMeghan GrebnerAug 28, 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.
