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Cattle futures rallied on Friday, with January Feeder Cattle settling up 3.675 and February Live Cattle up 1.85. Both markets hit new highs for the recent move before dipping into the close.
Feeder cash prices rose for a second day after bottoming earlier in the week.
Rising feeder cash prices and strong futures raise the cost of cattle that feedlots buy to finish, which lifts the cost of beef production and supports demand for feed grains used in finishing.
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.