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Cattle feeders gained about $5 back in the cash trade as show lists stayed short and packers' forward-bought inventory weakened. Cattle in the South brought up to $115 per cwt and in the North $115 live and up to $184 dressed.
Packers had earlier pushed the market down to $110.
Tighter fed cattle inventory supports cash prices and gives feeders leverage, which tends to lift feeder cattle values. Feedlot buyers face higher live cattle costs as packers compete for limited supply.
tscra.orgWritten by: kristinJun 12, 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.
