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Cash fed cattle trade rallied several dollars higher during the week, with bids reaching as high as $178 per hundredweight. About 92,000 head traded through Thursday, and live steers averaged $172.
Live cattle futures also gained, with April up over $3.50 to $171.97.
Cash prices lead futures in this market, so stronger cash bids support higher feeder and fed cattle values. Tight fed supplies sustain the upward pressure.
wlj.netAnna Miller FortozoApr 7, 2023Not 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 fed trade rallied several dollars and April futures rose over $3.50 to $171.97 in the week ending April 7, a direct contributor to the move.
Cash fed cattle rallied several dollars to as high as $178 and April futures gained over $3.50 that week, directly driving the window's gain.
Cash fed cattle trade surged several dollars to as high as $178 during the week ended April 7, and futures gained, which supports the following Monday's rally by raising expectations for cash and futures.
