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CME cattle futures increased on Wednesday, supported by a sharp drop in corn futures which boosted feeder cattle futures. Slaughter levels are also recovering after recent disruptions linked to immigration crackdowns.
Feeder Cattle futures extend a sharp sell-off, driven by a $35 cash price drop over the past month and net selling by commercial traders, while Live Cattle falls on beef import quota announcements.
Virginia McGathey discusses the recent price action across the livestock complex. Live Cattle futures remain weak, hitting a new four-month low as cash trade falls $10 to $15 lower from south to north. Conversely, Feeder Cattle futures bounced back on short covering and tight supplies, with the September contract risin
Feeder Cattle futures fell sharply as beef prices declined