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Live and feeder cattle futures rallied on February 2 after a weak first half of the week, with gains attributed to short covering and oversold chart readings. Feeder steers at the Huss Platte Valley Auction averaged 139.97/cwt, and cash asking prices held near 122 in the South and 192-194 in the North.
The rally reflects technical short covering rather than a fundamental change in supply, so cattle futures may stay volatile and feeder demand for feed grains may be little changed.
brownfieldagnews.comFeb 2, 2017Not 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.
