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WLJ publisher Pete Crow says futures have been in a steep decline, with the deferred live cattle contracts at their lowest levels over the life of those contracts. He notes cattle on feed are about 8% above a year earlier, but argues beef demand remains strong.
Futures discounting a large feedlot supply pushes deferred cattle prices lower, which weighs on cattle-feed demand, while the strength of beef demand may limit the downside.
wlj.netPete Crow, WLJ publisher emeritusMar 26, 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.
