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Live cattle posted modest gains on Aug. 25 ahead of the USDA Cattle on Feed report, but futures slipped off session highs as packers paid less for cash cattle.
Analysts expected placements to be up 6.2% year over year in July, and traders were watching Hurricane Harvey's effect on Texas cattle.
Cash cattle weakness and a larger expected placement pace point to ample supply, which tends to cap livestock prices and feedlot demand for feed.
country-guide.caTheopolis WatersAug 25, 2017Not 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.
