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June live cattle recovered from a mid-March dip tied to US bank failures and closed at a contract high of $162.12 on March 31. Packers continued to struggle to secure weekly supplies, and Southern live sales were mostly at $167.
May feeder cattle rose $7.70 for the week to $205.25.
Persistent packer shortages and limited available cattle support continued price strength in both live and feeder cattle. Speculative long liquidation has eased.
dtnpf.comTodd HultmanApr 3, 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.
It reports contract-high closes on March 31, packers struggling to secure supplies and cash trade near $167, which are tight-supply and momentum factors carrying into April 3.
Packers struggling to secure supplies and contract-high June futures on March 31 set up the early-window rally on tight cattle availability.
