Buyers continue to reward sellers for decommoditizing the product.

Buyers continue to reward sellers for decommoditizing the product.

Nevil Speer

Beef Magazine

The feeder market has been on a solid run of late. CME’s Feeder Cattle Index is encroaching $145 per cwt—that’s up from around $115 in early April. And as noted in this column several weeks ago, the runup has occurred, “despite two black swan events, bigger supply and sharp [feedyard] losses.” And along the way, “…the feeder market has staged a solid recovery and is encroaching the top side of a well-established trading range.”

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