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Live and feeder cattle futures closed lower ahead of the Cold Storage and Cattle on Feed reports, with weaker wholesale beef values and a bearish Livestock Slaughter report adding pressure. January feeders closed $3.32 lower at $138.27.
Cash cattle trade was quiet and steady.
Routine futures weakness driven by pre-report positioning and slaughter data signals softer near-term cattle demand for feed. The impact on feed grain and meal demand is limited.
brownfieldagnews.comMeghan GrebnerNov 22, 2019Not 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.
