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Live and feeder cattle futures closed sharply lower on October 19, 2020, pressured by weaker boxed beef and a higher corn move. October live cattle closed $3.15 lower at $104 and October feeders closed $3.50 lower at $134.60.
Choice boxed beef closed $.29 lower at $209.74.
Lower boxed beef and cash values signal weaker packer demand, which points to further downside for feeder cattle and feed demand.
brownfieldagnews.comMeghan GrebnerOct 19, 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.
Directly describes the Oct 19 close: live and feeder cattle sharply lower on weaker boxed beef and higher corn, matching the -1.82% move through demand and input-cost pressure.
