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Chicago Mercantile Exchange live cattle futures finished lower on demand uncertainty and a bearish USDA cold storage report, with August down $0.17 at $113.25. Feeder cattle also fell on demand concerns and pre-direct cash position squaring, while Choice boxed beef closed $0.75 lower.
Lower cattle futures and cash bids reduce the feedlot value of cattle and signal weaker demand for beef, which tends to ease feeder cattle prices and sentiment for feed grains tied to cattle feeding.
brownfieldagnews.comJohn PerkinsAug 23, 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.
