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Live and feeder cattle closed lower at the CME on profit-taking ahead of cash trade and the Cattle on Feed report, with feeders also pressured by a higher corn move. Hog futures were higher on demand optimism.
Boxed beef firmed on moderate demand.
Higher corn prices add to feeder cattle cost pressure, while cattle profit-taking reflects routine positioning ahead of a government report.
brownfieldagnews.comMeghan GrebnerDec 16, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
Reports that hog futures closed higher on demand optimism on Dec 16 confirm the move's direction and the sentiment driving it.
