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The Wisconsin market update reports that the original cattle harvest estimate for the week was 625,000 head, 33,000 below the prior year, with carcass weights falling. The Choice beef cutout rose $9.20 to $262.83, and CattleFax forecasts 2023 calf prices averaging $225/cwt.
Cash hog prices were steady and February lean hogs gained $1.90.
Tightening fed cattle supply and firm beef values support cattle and feeder prices into 2023, which in turn affects demand for cattle feed.
midwestfarmreport.comCharitee SeebeckerDec 27, 2022After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 61 past neutral report events, Lean Hogs moved a median -0.4% over 5 sessions (48% higher; middle half -1.3% to +1.8%), and +2.1% 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.
