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Live cattle closed mostly higher on the CME on Friday, with August live cattle up $0.67 to $108.62, while feeder cattle were mostly lower. Lean hog futures were pressured by lower wholesale pork values, and drought worsened hay conditions in Missouri, with 32 percent of the state in severe or extreme drought.
Lower wholesale pork values pull hog futures down, while drought-driven hay shortages raise cattle feeding costs and may push producers to market animals early. Routine price commentary with no major new cause.
brownfieldagnews.comMeghan GrebnerJul 27, 2018Not 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.
