# Grains Slip Lower at Close, Livestock Hit Hard | Friday, November 24, 2023

> Grain futures closed lower on Friday November 24, 2023 as markets wrapped up early for the holiday, with corn down 5 cents, soybeans down 26 cents and wheat down 7 to 13 cents. January feeder cattle closed down $7.80 and livestock was hit hard. Traders cited recession worries and weekend watch for South American weather.

- Date: 2023-11-24 · published 2023-11-24T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/7968-grains-slip-lower-at-close-livestock-hit-hard-friday-november-24-2023
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

Lower futures and fund-driven selling weaken the price outlook for feed grains and feeder cattle, which lowers input costs for feed buyers in the near term. Bearish technicals and possible money outflows from commodities suggest continued pressure unless South American weather turns.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼
- FCATTLE: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| FCATTLE | 2023-11-27 | 5 | -6.9% | -3.2 | Notes livestock hit hard on Nov 24 with January feeders down $7.80 amid recession worries, a demand/sentiment driver of the selloff. |

## Sources

- agriculture.com: https://www.agriculture.com/grains-futures-open-weaker-or-friday-november-24-2023-8406475

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.