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Live cattle closed $1.97 lower and feeder cattle closed about $3 lower at CME as selling accelerated after the Dow fell on coronavirus concerns. Cash trade opened significantly lower, with a light live trade in the South at $115, $5 below the prior week.
Lower futures and cash bids reflect broad risk-off selling tied to the virus outbreak, which weighs on near-term cattle prices.
brownfieldagnews.comMeghan GrebnerFeb 26, 2020After 37 past bearish macro events, Live Cattle moved a median -1.1% over 5 sessions (30% higher; middle half -4.3% to +0.4%), and -0.4% over 20.
After 27 past bearish macro events, Feeder Cattle moved a median -0.9% over 5 sessions (37% higher; middle half -3.7% to +0.4%), and 0.0% 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.
Live cattle down $1.97 as selling accelerated with the equity sell-off and cash opened $5 lower.
