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Negotiated cash cattle trade for the week through September 2, 2016 totaled about 99,277 head, down from 105,229 the prior week. Live cattle and dressed prices ended lower, with both futures and cash losing close to $5.00 over the week.
The weekly kill was 604,000 head, 44,000 larger than a year earlier.
A larger weekly kill combined with weak boxed beef values signals ample supply relative to demand, pressuring cattle prices. Packers are expected to open lower on the next bid cycle.
brownfieldagnews.comSep 2, 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.
Weekly cash and futures each lost nearly $5 with a kill 44,000 head above last year, showing supply pressure and weak cash trade.
