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The USDA-reported feeder cattle auction on November 11 showed receipts of 3,018 head, with steer calves under 500 pounds steady to $5 higher and yearling steers $4 to $8 higher. Demand was good on a moderate supply, helped by rain across parts of the Wheat Belt.
Stronger auction prices and firm demand support feeder cattle values, and rain in the Wheat Belt improves winter pasture for stocker cattle. Receipts are below last year, which tightens supply.
westplainsdailyquill.netNov 11, 2016Not 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.
