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Cash fed cattle sales in the Southern Plains were $2 higher at $112/cwt, and wholesale beef values rose. Live and feeder cattle futures closed higher on Friday after a strong monthly U.S. jobs report.
Firm cash and wholesale beef prices support futures and feedlot margins, which sustains feed demand. Broader financial strength adds mild support to commodity sentiment.
cattlecurrent.comWLINov 1, 2019cattlecurrent.comWLINov 3, 2019Not 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.
Dated at the move's end, it reports higher cash fed cattle ($112, +$2), rising wholesale beef and live cattle futures closing higher on a strong jobs report, which directly explains the Nov 1 jump via demand and sentiment.
Higher Southern Plains cash trade, firmer wholesale beef and futures gains after a strong jobs report lifted live cattle at the start of the window.
