After 36 days of going up, the Feeder Cattle future is down 80 cents today

Published: May 26 2023, 22:51 GMT+0

After 36 days of going up, the Feeder Cattle future is down 80 cents today

Today at a glance: Feeder Cattle ended today at $233.9 per pound following from closing yesterday at $234.7. Overall, this represents a loss of 80 cents or 0.34%.

United States Core Durable Goods Orders published today at 12:30 UTC came out at -0.2%, falling short of the 0% projections and continuing its decline from the previous 0.3% figure. United States Pending Home Sales released earlier showed a marked improvement to 0% from the preceding data of -5.2%, but fell short of the 0.5% figure forecast by a consensus of market analysts.

While price action maintains a negative bias, United States Core PCE Price Index (MoM) (Apr) released today at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3.

The commodity has been trending positively for about a year. The past 3 months have been positive for the Feeder Cattle future as it added 24.03% compared to its 3-month low of $154.6.

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