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Live and feeder cattle futures rose for the week ending May 24, 2024, with June live cattle up $4.50 to $183.52 on strong negotiated fed cattle trade at $187 in Texas and Kansas. Boxed beef was mixed, with the Choice cutout down 31 cents to $309.84 and dressed steer weights at 923 lbs.
Firm cash prices and tight fed supplies support live cattle futures, while mixed cutouts show limited packer margin relief. Traders were positioning ahead of the USDA Cattle on Feed report.
wlj.netCharles WallaceMay 24, 2024Not 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.
