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October feeder cattle futures fell $11 per hundredweight over five days after the latest Cattle on Feed report. Slaughter cow and bull markets were also aggressive, and some dairy cows in Texas, New Mexico and Kansas tested positive for avian influenza.
A sharp futures drop after a bearish government report signals lower expected feeder prices, although feeder numbers at sale barns are declining.
hpj.comJerry NineMar 29, 2024Not 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.
Feeder futures fell about $11/cwt over five days after the Cattle on Feed report, and avian flu in dairy cows added to sentiment, directly matching the sharp selloff.
