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Live cattle futures rallied sharply on an oversold bounce ahead of the week's direct cash cattle trade, with August live cattle up $2.20. Feeder cattle also rose sharply, with August feeders up $2.90.
A BSE case was found in an 11-year-old cow in Alabama, which is not expected to affect cash or futures prices.
A cattle futures rebound lifts the value of cattle on feed, which supports demand for feed ingredients, though the rally is technical and tied to oversold conditions rather than a fundamental shift.
brownfieldagnews.comJohn PerkinsJul 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.
