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Live cattle futures fell sharply on technical selling, weaker cash trade and lackluster boxed beef, with August down $2.12 at $110.35. Feeder cattle futures also dropped, while lean hog futures rose sharply.
Hay prices were also reported soft in Iowa due to lower quality from heavy rain.
Sharp cattle losses reduce cattle feeding returns and feeder demand, while the hog rally supports demand for hog feed and meal ingredients.
brownfieldagnews.comJohn PerkinsAug 26, 2016Not enough comparable past events yet for a historical read.
Not 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.
