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Alberta fed cattle traded at $137-138 in mid-October, and beef production in October came in below expectations. USDA lowered its 2017 third- and fourth-quarter beef production estimates, while retail and restaurant demand is firm.
Feeder and calf prices have risen on risk premium in April live cattle futures.
Tighter beef supply and firm demand point to higher fed and feeder cattle prices, with risk premium building into 2018 first-quarter supplies.
grainews.caJerry KlassenNov 8, 2017After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% 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.
