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U.S. live cattle futures fell more than 2% on Monday, pressured by ample beef supplies and fund selling as Wall Street equities declined. Feeder cattle fell about 3% as corn futures rose to nearly $5 a bushel, the highest since 2014.
Lean hog futures rose on strong wholesale ham prices.
Higher corn costs squeeze feedlot margins and weigh on feeder cattle values, while heavy cattle supplies keep live cattle under pressure. Firm ham prices give hog futures some support.
grainews.caJulie Ingwersen, GFM Network NewsJan 5, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
