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Live cattle futures extended their losing streak to seven sessions as traders anticipated softer cash prices by Friday. Bids in Texas and Kansas were at $115/cwt against seller asks above $120, down from mostly $117 to $118 the prior week.
Feeder futures also fell after a bearish USDA Cattle on Feed report showed more placements than expected.
Expectations of weaker cash cattle prices and more supply ahead point to lower live and feeder cattle values for feed buyers and feedlot operators.
grainews.caGFM Network NewsAug 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.
