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Live cattle closed mostly lower on profit taking ahead of the Cattle on Feed report, while feeder cattle closed higher on short covering. Boxed beef rallied sharply, with Choice up $2.31 to $199.57, and Oklahoma City feeder steer prices fell $5 to $7.
Traders were positioning ahead of the monthly Cattle on Feed report, which will set expectations for feedlot supply and placements. Until that data is released, the mixed cattle moves offer no clear direction for feed demand.
brownfieldagnews.comMeghan GrebnerOct 19, 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.
