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US cattle futures rebounded after Monday's lows as consumers stocked up at grocery stores following restaurant closure orders from several governors. Cash cattle traded as much as $3 per lb higher than a week earlier, priced $13 to $18 over futures.
Live cattle contracts posted limit-up gains in the nearby months.
Retail restocking demand lifted cash and boxed values, supporting fed cattle and feeder futures after a sharp selloff. The rebound signals that near-term meat demand from grocery channels can offset foodservice losses.
thecattlesite.comGlobal Ag MediaMar 18, 2020Not 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.
Futures rebounded from Monday's lows with limit-up nearby live cattle as grocery buying surged after restaurant closures, a demand-shift mechanism.
Futures rebounded as grocery stocking after restaurant closures lifted beef demand and cash prices, supporting the bounce from Monday's lows.
