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Live cattle futures closed mixed on Monday, while feeder cattle rose as corn prices fell sharply. The August live cattle contract ended lower at 104.200 cents per pound, with deferred contracts finishing higher.
Lower corn prices reduce feeding costs, supporting feeder cattle futures, while live cattle moves were mixed.
reuters.comJulie IngwersenJul 1, 2019Not 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.
Same-day CME report shows August live cattle closing lower at 104.200 cents, directly describing the session's price weakness, though deferred contracts rose and the report was mixed.
Feeder cattle rose on July 1 as corn fell sharply, since lower feed cost improves feeder demand and margins, supporting the rebound.
