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Buying interest in feedlot cattle was limited, with a wide gap between bids of $123 live and asking prices around $130. Boxed beef cutout values fell sharply on light demand and heavy offerings.
CME live cattle settled lower, and feeder cattle ended mostly lower.
A wide bid-ask spread and weaker boxed beef values signal continued pressure on cash and futures cattle prices. Packers' reluctance to pay asking prices limits near-term price recovery.
brownfieldagnews.comApr 27, 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.
