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Cattle futures closed sharply lower on September 1, 2016, with October live cattle hitting the limit down. Feeder cattle contracts fell 2.35 to 3.82 points on aggressive long liquidation and technical selling.
Cash cattle sales were reported at lower prices in Kansas, Texas and Nebraska.
Limit losses and weak fundamentals signal continued downward price pressure across live and feeder cattle. Seasonal supply pressure is expected to keep the complex weak in the near term.
brownfieldagnews.comSep 1, 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.
Same-day close shows October live cattle limit down amid aggressive long liquidation and technical selling, which explains the sharp one-day move.
Limit-down close in October live cattle on Sept 1 with aggressive long liquidation and lower cash trade in major feeding states drove much of the weekly decline.
