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DTN analyst ShayLe Stewart described extreme volatility in cattle markets during the coronavirus outbreak. April live cattle fell $18.30 and April feeder cattle fell $26.95 in the last two weeks, while boxed beef prices rose to record levels.
Cash cattle were bought at $168 to $175 dressed in the North.
The divergence between falling futures and cash prices and rising boxed beef values creates a disconnect that complicates feeder purchasing and hedging decisions. Feed demand from cattle feeders is under pressure from lower live prices.
dtnpf.comShayLe StewartMar 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.
