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Strong cash basis in Canada and the U.S. is pushing cattle feeders to sell sooner and at lighter weights. USDA data showed cattle on feed for April 1 up 7% from 2017, the second highest since 1996, with March placements down 9%.
Larger feedlot inventories and early marketings at lighter weights add near-term supply, which pressures live cattle prices and reduces feed demand per head.
realagriculture.comRealAgriculture News TeamApr 21, 2018After 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 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.
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.
