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Live cattle futures firmed on Thursday as grain prices fell on profit-taking and the dollar weakened after softer US inflation data. Lean hog futures eased on seasonal pressure, and China cancelled some US pork and beef export sales according to USDA.
Lower corn prices help feeder cattle values, while China's cancelled purchases weigh on US pork and beef export demand.
thebeefsite.comMelanie EppNov 11, 2022After 47 past bullish trade events, Feeder Cattle moved a median +0.2% over 5 sessions (53% higher; middle half -1.0% to +1.0%), and +1.5% over 20.
After 123 past bearish trade events, Lean Hogs moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), and -0.2% over 20.
After 78 past bullish trade events, Live Cattle moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +1.2%), and +0.5% 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.
