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Cattle futures and cash trade moved higher in early November, with cash fed cattle selling at $119-121 live and dressed cattle at $190-192, both up from the prior week. Analysts pointed to next resistance near $125 and $128-130.
Recent USDA carcass grading changes are expected to shrink supply of Prime and Choice beef, prompting packers to pay premiums for quality cattle.
A shrinking supply of top-grade beef and premiums for quality cattle support higher live and feeder cattle prices.
wlj.netKerry Halladay, WLJ Managing EditorNov 6, 2017Not 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.
