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USDA's Cattle on Feed report showed October 1 inventory at 11.55 million head, unchanged from last year and mostly in line with expectations. December live cattle futures rose $1.825 to $189.15 per cwt, and cash fed cattle traded $2 to $4 higher on the week.
Cattle supplies were steady and packer margins improved, supporting higher cash cattle prices. Feeder cattle buyers face firmer prices as packers bid more for fed cattle.
beefmagazine.comTrey FreemanOct 28, 2024After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
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.
