Mixed sentiment sees the Feeder Cattle future ending the day broadly flat; establishes tight $182.85 to $183.9 range

Published: January 26 2023, 06:26 GMT+0

Mixed sentiment sees the Feeder Cattle future ending the day broadly flat; establishes tight $182.85 to $183.9 range

Feeder Cattle trades at $183.65 per pound, after ending yesterday at $183.75.

Uncertainty around Feeder Cattle is reflected by published market data as United States Crude Oil Inventories published yesterday at 15:30 UTC came out at 533,000, falling short of the 971,000 projections and continuing its decline from the previous 8.41 million figure. United States 5-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. United States Cushing Crude Oil Inventories released yesterday at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

Furthermore, the market is looking at today at 13:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to -0.2% from the preceding figure of 0.1%. United States Pending Home Sales is projected to outperform its last figure with -0.9%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC. United States Core PCE Price Index (MoM) (Dec) is scheduled for tomorrow at 13:30 UTC.

Trading mostly sideways for 8 months. The current year has not been the best for Feeder Cattle as it lost 3.1% from its highest point of $189.55.

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