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Live cattle futures rallied with triple-digit gains as end-of-year buying broke through resistance and set contract highs in December and February. Cash cattle bids were unavailable midday, with asking prices at $122 live and $195 dressed.
Hog futures were mixed and corn was slightly higher.
Strong futures support expectations of firmer early-2019 beef demand and gives feedlots a better price floor for forward sales. Cattle price direction is bullish for feeder and fed cattle.
dtnpf.comRick KmentDec 27, 2018Not 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.
