World food prices fell 1.3 percent in August from the month before after three straight monthly increases, reflecting lower values for cereal, sugar and meat, the United Nations food agency said on Thursday.
Cattle feeding margins were unchanged from the previous week, which means the train wreck continues. Despite modest gains in the cash market, cattle feeders lost an average of $206 per head, just $1 better than the previous week.
Cattle markets will continue to be influenced by uncertainties from coronavirus, and the sharp selloff in financial markets. The DOW closed the week with a 1,985-point gain (9.4%), the DOW’s largest ever one-day gain.