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Feeder cattle auction receipts were 5,885 head, with calf and yearling prices trading 3 to 12 dollars lower on moderate demand against heavy supply. The Cattle on Feed report showed June 1 inventory at its highest since the series began, 4 percent above a year ago, with placements only slightly above last year and marketings 5 percent higher.
Record cattle inventories and higher marketings point to more feed demand over the coming months but also more beef supply, which pressures cattle prices. Heavy feeder supply weighs on auction prices for buyers tracking feedlot placements.
westplainsdailyquill.netJun 29, 2018After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% over 20.
After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
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.
