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Feeder cattle prices imply feedlot breakevens of $121 per cwt or higher, which summer live cattle futures do not cover. Futures for February through October 2018 had fallen more than $7 per cwt on average by mid-January.
USDA Cattle on Feed data showed placements in the last four months were above the prior year.
Higher placements and falling futures signal feedlot margin pressure, which weighs on feeder demand and cattle prices into 2018.
lib.dr.iastate.eduLee SchulzJan 1, 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.
