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Live and feeder cattle futures closed lower at the CME on supply concerns, weak cash trade and sharply lower wholesale boxed beef values. June live cattle closed $1.20 lower at $111.07 and May feeder cattle $1.52 lower at $135.77.
Cash dressed cattle deals in the North ranged from $189 to $194, with hog futures also under pressure.
Lower cash and wholesale values signal weaker packer demand for fed cattle, which pulls feeder and live cattle futures lower. Hog futures weakness adds to the bearish tone across livestock feed-demand markets.
brownfieldagnews.comMeghan GrebnerMay 8, 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.
