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Pete Crow comments on the NCBA convention and the January cattle inventory report, which showed slowing herd growth and replacement heifers at 96% of the prior year. Fed cattle cash trade reached about $126-127 after a volatile period in futures.
Slowing herd growth supports cattle prices, but large supplies and volatile futures keep the balance between bulls and bears uncertain.
wlj.netPete Crow, WLJ publisher emeritusFeb 2, 2018Not 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.
