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Fed cattle traded 5 higher on a live basis, with the five-area weighted average at 136.26 live and 215.14 dressed. The Choice cutout was 245.35 and the Select cutout was 217.95 after Memorial Day.
The May cattle on feed report was somewhat bearish, but cash trade was strong.
Packers buying to fill orders and feedlot tightness support fed cattle prices. Restocking demand after the holiday supports the beef cutout.
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.
