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Front-month live cattle futures fell to a nine-year low on the CME on September 9 amid weak cash prices and large supplies. Cash cattle were expected around $98/cwt in Texas and Kansas, down from $100 a week earlier.
Packers killed an estimated 115,000 cattle, versus 119,000 a year earlier.
Weak cash trade and heavy supply pressure feeder and fed cattle values, and packers' control of cash pricing keeps downside pressure on the complex.
grainews.caGFM Network NewsSep 9, 2019Not 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.
Front-month live cattle hit a nine-year low on Sept 9 on weak cash prices and large supplies, marking the end point of the move.
