# Several Factors Influence Sharp Sell-Off in Live Cattle Following WASDE Report

> Live cattle and feeder cattle futures fell sharply on November 9 after the WASDE report raised its 2024 beef production estimate above expectations. Feeder contracts led the drop, with nearby prices down nearly $8 per cwt. Cash trade was also $4 to $5 lower and choice boxed beef slipped below $300.

- Date: 2023-11-10 · published 2023-11-10T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/33326-several-factors-influence-sharp-sell-off-in-live-cattle-following-wasde-report
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

A larger projected 2024 beef supply adds to bearish pressure on cattle prices already weakened by slower slaughter and softer beef demand. Feeder and live cattle values are likely to stay under pressure until the supply outlook firms.

## Read by commodity

- FCATTLE: bearish ▼
- LCATTLE: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| FCATTLE | 2023-11-09 | 1 | -2.4% | -3.0 | The WASDE report on Nov 9 raised 2024 beef production estimates above expectations, triggering a sharp sell-off in feeder futures (nearby down nearly $8/cwt), directly matching the move's date and size. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2018-12-10 | [African swine fever factors into cattle price forecast - Beef Central](https://feedsoft.ai/events/61523-african-swine-fever-factors-into-cattle-price-forecast-beef-central.md) | +1.1% | +5.5% |
| LCATTLE | 2020-02-12 | [Cattle, hog futures lower following USDA report - Brownfield Ag News](https://feedsoft.ai/events/54713-cattle-hog-futures-lower-following-usda-report-brownfield-ag-news.md) | +0.1% | -9.0% |
| LCATTLE | 2021-05-27 | [USDA reports second largest inventory of cattle on feed since 1996](https://feedsoft.ai/events/4968-usda-reports-second-largest-inventory-of-cattle-on-feed-since-1996.md) | +0.3% | +3.9% |
| LCATTLE | 2019-12-02 | [Understanding 'Placements' in the Cattle on Feed Report](https://feedsoft.ai/events/55713-understanding-placements-in-the-cattle-on-feed-report.md) | +0.5% | +3.9% |
| LCATTLE | 2017-06-23 | [U.S. livestock: CME live cattle rally before USDA report - Country Guide](https://feedsoft.ai/events/70627-u-s-livestock-cme-live-cattle-rally-before-usda-report-country-guide.md) | -2.7% | -5.1% |
| FCATTLE | 2020-02-12 | [Cattle, hog futures lower following USDA report - Brownfield Ag News](https://feedsoft.ai/events/54713-cattle-hog-futures-lower-following-usda-report-brownfield-ag-news.md) | +4.5% | -8.4% |
| FCATTLE | 2020-10-02 | [Cattle on Feed report pushes feeders south \| Western Livestock Journal](https://feedsoft.ai/events/50773-cattle-on-feed-report-pushes-feeders-south-western-livestock-journal.md) | -2.0% | -3.2% |
| FCATTLE | 2021-05-27 | [USDA reports second largest inventory of cattle on feed since 1996](https://feedsoft.ai/events/4968-usda-reports-second-largest-inventory-of-cattle-on-feed-since-1996.md) | +12.1% | +15.1% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/sort-cull/blog-post/2023/11/10/several-factors-influence-sharp-sell

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.