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CME live cattle futures fell to their lowest levels in more than five weeks on 1 March 2021 as technical selling hit the market. The most-active April contract was down about 6% from its 16 February life-of-contract high, and boxed beef cutout values dropped.
April feeder cattle also touched a one-month low.
Falling cutout values and technical selling pressure cattle futures, and traders said futures looked high relative to cash prices. Feeder buyers can expect softer feeder cattle pricing in the near term.
thecattlesite.comGlobal Ag MediaMar 2, 2021Not 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.
Technical selling pushed CME live cattle futures to a five-week low on 1 March 2021 alongside weaker boxed beef, directly matching the sharp one-day move.
