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DTN's analyst notes that 2024 year-to-date Choice cutout values average about $306.88, well above last year and the five-year average. Live and feeder cattle prices have weakened after a broad commodity selloff earlier in the month.
The column argues that steady beef demand may justify the USDA's projected cattle prices.
Solid beef cutout values support cattle prices despite the recent weakness in futures and cash trade. If demand holds, the price outlook for cattle and feeder cattle is firmer than recent sell-offs suggest.
dtnpf.comShayLe StewartSep 3, 2024Not 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.
Published Sept 3, it notes live and feeder cattle prices weakened after a broad commodity selloff, which describes the sentiment behind the drop, though its message about firm beef demand is mildly supportive.
