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Western Canadian feeder cattle traded $3 to $6 lower on the week as August feeder futures lost $10 and US cash feeder prices fell. Analysts cited expected loss of 6 to 10 million US corn acres and Prairie dryness, with barley delivered Lethbridge up $25 per tonne.
Expected corn acreage losses and dry Prairie conditions tighten feed grain supplies, raising feed costs and pressuring feeder cattle margins.
country-guide.caJerry KlassenJun 4, 2019After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
After 29 past bearish weather events, Feeder Cattle moved a median +0.5% over 5 sessions (62% higher; middle half -0.5% to +2.6%), and +2.4% 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.
