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An outlook piece says larger beef supplies will test cattle market strength in 2018, with feeder cattle prices implying feedlot breakevens near $121 per cwt. Feedlot placements in recent months ran above the prior year, and futures fell more than $7 per cwt by mid-January.
Rising beef and competing protein supplies could pressure fed cattle prices, while larger feedlot placements mean more cattle on feed, supporting steady feed demand.
farmprogress.comLee SchulzFeb 5, 2018After 37 past bearish macro events, Live Cattle moved a median -1.1% over 5 sessions (30% higher; middle half -4.3% to +0.4%), and -0.4% over 20.
After 27 past bearish macro events, Feeder Cattle moved a median -0.9% over 5 sessions (37% higher; middle half -3.7% to +0.4%), and 0.0% 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.
