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The weekly weighted average Five Area cash steer price rose to $124.40 for the week ending February 25, about $4.81 higher than the prior week. The cash dressed steer price jumped $6 to $195.90, and forward contracts were large for February through April.
Rising cash fed cattle prices and a strong carcass price point to firmer live cattle futures, and ample forward contracts indicate packers have supply secured.
beefmagazine.comEd CzerwienFeb 28, 2017Not 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.
Five Area cash steer price jumped about $4.81 and dressed cash up $6 in the week ending Feb 25, a bullish cash signal that pulls futures higher toward cash.
