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Live and feeder cattle futures rallied on Monday, May 2, 2022, helped by lower corn prices. The June live cattle contract rose $2.55 to $135.20, and May feeder cattle gained over $5.
Cash trade was light, and boxed beef edged higher.
Cheaper corn lowers feeder cattle production costs, which supports feeder and live cattle prices. Light cash volume leaves the near-term price trend uncertain.
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.
Market wrap confirms the May 2 rally in feeders, helped by lower corn prices, with May feeders up over $5.
