Loading…
Feeder cattle sales in Reno and Cheyenne drew strong prices, with yearlings selling for $10-20 above the CME Feeder Cattle Index of $170.34. Moderate to severe drought covers half the US, and fall calf markets are expected to be strong.
Strong feeder sale prices and drought-tightened supplies point to higher feeder cattle prices in the second half of the year.
wlj.netPete Crow, WLJ publisher emeritusJul 15, 2022After 79 past bullish weather events, Feeder Cattle moved a median +0.1% over 5 sessions (53% higher; middle half -1.4% to +1.7%), and +1.4% over 20.
After 80 past bullish weather events, Live Cattle moved a median +0.1% over 5 sessions (54% higher; middle half -0.8% to +1.3%), and +0.7% 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.
