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Fed cattle prices were mostly steady in the week of November 19, with high Choice and Prime steers at $168 to $173/cwt. The report cites the November Cattle on Feed numbers as within expectations, with placements up 3.8% and slower harvest pace adding weight.
Steady cash fed cattle prices and slower harvest pace lend mild support to cattle values, though heavier weights add beef supply.
midwestfarmreport.comCharitee SeebeckerNov 27, 2023Not 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.
