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CME live cattle futures closed lower for a third straight session on fund-driven long liquidation at month end. Feeder cattle fell as Chicago corn rose to a two-week high after Russia suspended its participation in the Black Sea grain deal.
Lean hog futures also declined, with December down to its lowest since October 17.
Feed grain strength raises feeding costs and pressures feeder cattle and hog values. Fund liquidation adds short-term downside to livestock futures.
thecattlesite.comMelanie EppNov 1, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
Reports live cattle closing lower on 2022-11-01 on month-end fund long liquidation and higher corn after Russia suspended the Black Sea grain deal, directly matching the date and a sentiment/input-cost mechanism; direction of the 1.75% move is not stated in the prompt, so this is conservative.
