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Direct cash cattle trade was quiet after a winter storm disrupted business in major feeding areas, with asking prices at $123+ live. Boxed beef was narrowly mixed, and cash hog negotiated trade was light to moderate.
The USDA weekly export sales report was delayed by a government shutdown.
Weather-related disruption and the delayed USDA export report reduce market visibility and hold cash trade flat. Cattle and hog prices are neutral in the short run.
brownfieldagnews.comDec 28, 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.
Higher cash asking prices of $123+ live, together with winter storm disruption in feeding areas, signaled firm cash strength and supported futures heading into year-end.
