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Heavy rain and flooding across the Plains and Midwest continued to delay planting and disrupt river transport, including commercial navigation on the McClellan-Kerr Arkansas River system. Cash steer and heifer prices eased $0 to $5/cwt, and feeder cattle futures fell sharply amid a surge in grain futures.
Flooding disrupts barge logistics and raises grain price uncertainty, which raises feed costs and pushes feeder cattle values lower.
cattlecurrent.comWLIJun 1, 2019Not enough comparable past events yet for a historical read.
After 285 past bullish logistics events, CORN moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
After 20 past bearish logistics events, FCATTLE moved a median +1.3% over 5 sessions (60% higher; middle half -0.7% to +2.0%), and +2.1% over 20.
After 29 past bearish logistics events, LCATTLE moved a median -0.3% over 5 sessions (38% higher; middle half -2.0% to +0.5%), and -3.7% over 20.
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.
Feeder futures fell sharply amid a surge in grain futures and flooding-related planting delays, raising feed costs and cutting feeder values.
Notes feeder futures fell sharply amid a surge in grain futures and weather disruptions, matching the move's timing and driver.
