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Feeder cattle prices continued to drift lower in the week to June 22, though by less than the prior week, with some recovery after the CME feeder futures turnaround. Slaughter cow prices rose $1 to $3, with the largest gains in dairy cows, as beef cow numbers fell seasonally.
Lower feeder cattle prices reduce feeder costs for feedlots, while the seasonal drop in receipts is typical for this time of year. Price direction is mixed across the cattle complex.
beefmagazine.comEd CzerwienJun 22, 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.
