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Live cattle futures traded sideways while feeder futures climbed to contract highs during the week. Cash live cattle traded at $172-173 in the south and $177-183 in the north.
A break in corn futures tied to China cancellations was noted, and southern rains reduced feeder calf supply.
Tight feeder supplies and firm cash trade support cattle prices, while a corn price break lowers feed costs for feedyards. Packers' reluctance to push cash prices higher limits upside.
tsln.comApr 28, 2023Not enough comparable past events yet for a historical read.
Not 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.
Feeder futures climbed to contract highs during the week, while a corn break tied to China cancellations lowered feed costs and southern rains cut feeder calf supply, which fits the sharp one-day gain.
