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USDA reported light to moderate cash cattle trade in Kansas, the Texas Panhandle, Nebraska, Colorado and Iowa, with live sales mostly $6.50-$7.00 lower. Boxed beef cutout values fell on weak demand and heavy offerings.
CME live and feeder cattle contracts settled sharply lower, with June live cattle trading below $115.
Lower cash prices and weaker boxed beef values signal reduced packer margins and softer demand for feeder cattle. The downward pressure is likely to persist into futures pricing for feeder and fed cattle.
brownfieldagnews.comApr 22, 2016Not 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.
Cash cattle fell $6.50-$7.00 and boxed beef weakened on poor demand, pushing CME live cattle sharply lower with June below $115.
