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Cattle on Feed supplies were steady with inventory close to last year, placements down about 2%, and marketings up about 2%. Cash cattle prices moved higher because strong packer margins let packers bid for the available fed cattle.
Higher packer margins support cash cattle prices despite ample fed supplies. Record retail beef prices could push consumers toward chicken and pork over time, which would limit cattle demand.
americanagnetwork.comDigital TeamOct 30, 2024After 268 past bullish report events, LCATTLE moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% 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.
