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For the week ending October 16, 2020, steers and heifers sold steady to $3 per cwt lower as wholesale beef values weakened. Feeder cattle futures fell an average of $6.35 for the week, and resurgent grain prices added to the pressure.
Drought and an early Arctic blast affected the Plains.
Weaker wholesale beef and rising grain prices squeeze cattle feeding margins, which can slow placements and reduce demand for feed.
cattlecurrent.comWLIOct 18, 2020Not enough comparable past events yet for a historical read.
Not 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.
Weekly recap for the week ending Oct 16 shows feeder futures down an average of $6.35 on weaker wholesale beef and resurgent grain prices (input cost), directly matching the sharp selloff.
The weekly summary for the week ending Oct 16 shows cash cattle steady to $3 lower, weaker wholesale beef, and resurgent grain prices raising feed costs, which pressured futures.
Prior-week weakness in cash cattle and wholesale beef plus rising grain prices and a $6 feeder decline set up bearish momentum carried into Oct 19.
