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Feeder and live cattle futures fell sharply Monday after August cattle placements came in 2.6% above a year earlier at 1.93 million head, above estimates. Choice boxed beef cutout rose to $193.96 per cwt.
Placements above expectations signal larger future beef supplies, pressuring feeder and live cattle futures lower.
cattlecurrent.comWLISep 25, 2017After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% over 20.
After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% 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.
