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Federal-State feeder cattle receipts for the week were 150,300 head, down from 180,100 a week earlier, and buyer demand was moderate to good with prices mixed by region. The report notes that rising feed costs are pushing feedyards to move cattle faster, and corn futures fell significantly during the week.
Lower receipts and feedyard pressure to sell support feeder prices, while sharply lower corn reduces feed costs and weighs on feed grain values.
capitalpress.comStaff ReportsJun 3, 2022After 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 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
