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Feeder cattle and live cattle futures settled sharply lower on Monday after a larger-than-expected cattle on feed placement report. Feedlot managers were confused by a wide gap between country cash bids and discounted futures, and the cattle kill was estimated at 115,000 head.
Heavier-than-expected placements add to expected future cattle supplies, which pressures feeder and fed cattle futures. Wide cash-to-futures spreads make price discovery harder for feedlots buying feed.
brownfieldagnews.comJan 30, 2017Not 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.
