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Live cattle futures closed higher for the week, with December up $2.60 to $158.50 and February up $1.55. The Choice boxed beef cutout rose over $14 for the second straight week on strong demand.
Cash trade was light, with live steers averaging $157.62.
Strong boxed beef demand and light cash supply give feedlots leverage to push cash prices higher, supporting cattle futures.
wlj.netCharles WallaceDec 30, 2022Not 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.
Year-end weekly wrap shows light holiday cash trade and futures positioning ahead of New Year, which is relevant to the Dec 30 decline, though it reports gains for the week rather than a drop on the day.
