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Cash cattle prices rose unexpectedly while live cattle futures lagged, widening the basis to record levels. Rabobank attributed this to concern over a possible oversupply in the pipeline and growing supplies of competing proteins.
Beef exports were robust and domestic demand was solid.
A record cash premium over futures encourages aggressive marketing of fed cattle and pressures the futures curve. Strong beef export demand supports cash prices.
thefencepost.comCarrie StadheimMay 31, 2017Not 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.
